Andrei Belousov Assigned the Regions in the Russia’s Far East to Follow the Best Practice of the Smolensk Region

Aide to the President of the Russian Federation Andrei Belousov entrusted the regional governors of the Russian Far East to follow the successful experience of the Smolensk Region related to investment attraction. This was reported at the Business Breakfast devoted to increasing the investment appeal of the Far East, held during the 5th Eastern Economic Forum (EEF).

During the event Presidential Plenipotentiary Envoy to the Central Federal District Igor Shchegolev presented successful experience of the Smolensk Region related to investment raising, based on the prepared Investment Development Plan. “We have reported on this practice to Anton Siluanov, and it was considered to be the best. For our part, we also call to learn from this experience,” noted Igor Shchegolev.

The detailed plan aimed to attract investments into the Smolensk Region was developed by order of Governor Alexey Ostrovsky. The document takes into account the current situation, best practices, needs and opportunities, as well as prospects for further development of the Smolensk Region. In particular, it identifies 9 priorities (specific sectors of economy, focus areas for priority investments), for each of which the amount of investments is defined; the priority areas are divided by municipalities, thus making it clear where establishment of new special economic zones, priority social and economic areas or industrial parks is more practical. The document reveals the sites that are in urgent need of engineering and transport infrastructure. In addition, the long lists of investors have been compiled and negotiations with these specific companies have been started aimed to implement the investment projects within the Smolensk Region; besides, the measures of state support have been evaluated on whether they are sufficient to satisfy the needs of investors in specific sectors.

Summing up the discussion, Andrei Belousov requested the regions of the Far East Federal District to work out similar documents by November this year.

It should be recalled that in 2018 the Smolensk Region has entered the Top-20 list of the Russian Regional Investment Climate Index, presented by Svetlana Chupsheva, CEO of the Agency for Strategic Initiatives to Promote New Projects, during the St. Petersburg International Economic Forum.

The 5th Eastern Economic Forum was held on 4–6 September 2019 at the Far Eastern Federal University campus in Vladivostok on Russky Island. It is arranged by the Roscongress Foundation. Over 8 thousand representatives of more than 60 countries were participating in the EEF. The summit participants had a varied business, entertainment and sporting programme. President of Russia Vladimir Putin also visited the event.