The First Deputy Prime Minister of the Russian Federation, Andrey Belousov, outlined the priorities for developing the regional investment standard for the upcoming year to the stakeholders.
“Further development of the regional investment standard should involve analyzing and implementing best practices, enhancing the skills of investment teams, improving legislation to reduce network connection time, and creating a seamless customer journey. I would like to emphasize that the Ministry of Economic Development of Russia has now shifted the focus of this initiative to the regions. It is within the regions that the newly established institutions should be effectively utilized”, stated First Deputy Prime Minister Andrei Belousov.
Three criteria have been established to evaluate the effectiveness of the region’s efforts in the regional investment standard industry: feedback from businesses, volume of private investment attracted, and the region’s ranking in the annual national investment attractiveness rating.
“The amount of extra-budgetary investment in fixed assets in the first half of 2023 rose by nearly 208 percent in the region compared to the same period in 2022, reaching around 10 billion rubles. Establishing direct connections with businesses and business organizations played a key role in Sevastopol moving up from 14th to 12th place in the National Investment Climate rating”, stated Deputy Governor Maria Litovko.
According to business associations, Sevastopol was among the regions that implemented a regional investment standard in 2023. This standard simplifies the investor’s journey from idea to execution by providing tools to overcome common obstacles.
Source: sev.gov.ru
