Smolensk Region Has Entered the Top-20 List of the Russian Regional Investment Climate Index

The results of the Russian Regional Investment Climate Index have been presented within the framework of the St. Petersburg International Economic Forum. The rating findings show that the Smolensk Region was ranked 20th in the 20 top regions, having added up 11 points compared to last year.

“The findings of the Russian Regional Investment Climate Index were announced in St. Petersburg. The interim goal, which I set before, has been successfully achieved. The Smolensk Region has been included into the Top-20 best regions of Russia for the first time ever. The rating position is based on evaluating performance of the federal, regional and municipal authorities. By the results of 2018 regardless of the federal executive bodies’ performance, the Smolensk Region won 6th position in the country,” reported Governor Alexey Ostrovsky. 

The average integrated rating index has increased by 7.3 points (+2.9 %), which is half as much as in 2018.

It should be recalled that the Russian Regional Investment Climate Index is arranged with the support of the Agency for Strategic Initiatives to Promote New Projects. The research is aimed at assessing the efforts taken by the regional authorities at any level to improve business environment in their regions. According to experts, the index results encourage competition for investments at the regional level.