The Government Has Expanded the Possibilities of Concluding Special Investment Contracts

The government has expanded the possibilities of concluding special investment contracts. The government continues to support entrepreneurs who are ready to invest in the development of modern technologies. It was decided to expand the possibilities of concluding special investment contracts (SPIC 2.0), which allow manufacturers to enter the serial production of high-tech goods faster. The corresponding decree was signed by Prime Minister Mikhail Mishustin.

In accordance with the resolution, the list of Russian scientific organizations that provide investors with an assessment of the level of applied technologies, their relevance and competitiveness is being supplemented. Now this list will include 10 more scientific organizations from the field of biotechnology, as well as food and agricultural engineering. Their expertise will help accelerate the release of products in demand in the industry like oils, various bio-additives, industrial acids, glycerin, veterinary vaccines, and biodegradable bioplastic for packaging.

"We hope that these measures will promote the active introduction of high-tech solutions in agribusiness, which will result in an increase in food production both for the Russian market and for export. The attractiveness of investments in our agribusiness will also increase, which means that more new jobs will appear in our regions," - Mikhail Mishustin said at a meeting with deputy prime ministers on April 17.

In the new format, the mechanism of the special investment contract has been in effect since the end of 2020. It allows attracting large private investments in the development of innovative solutions and the creation of high-tech industries for the production of competitive domestic products.

Within the framework of the SPIC mechanism, the investor undertakes to implement an investment project on the introduction or development and implementation of modern technology for the development of serial production of industrial products on its basis on the territory of Russia within the terms stipulated by the contract.

The state, for its part, guarantees such an investor favorable, understandable and unchangeable conditions for investments, including tax benefits and special conditions for renting land without bidding. Contracts are concluded for up to 15 years if investments in the project do not exceed 50 billion rubles. With a larger amount, the validity period of the agreement can be extended to 20 years.

The signed document amended Government Decree No. 994-r dated April 12, 2020.