Wednesday, June 20, 2018

Federal experts praise Sverdlovsk's investor development strategies

The methods of increasing investment attractiveness undertaken by the Sverdlovsk region were endorsed this week by federal experts during a seminar at the Russian Academy of National Economy and Public Administration in Moscow.

At the seminar, representatives from 21 areas of Russia presented their plans for attracting investors in front of a panel of experts from the Russian Agency for Strategic Initiatives and the National Rating Committee. Sverdlovsk Minister of Investment and Development Alexei Orlov outlined the region's current achievements and future plans in promoting investment attractiveness.

In his presentation, Orlov informed the experts that the Sverdlovsk region has accelerated the speed in which builders are issued permits and receive access to the power grid. The region now gives tax breaks to priority investment projects and has established a set of financial support measures for small and medium-sized businesses. Specialized regional development projects such as industrial parks and special economic zones now receive municipal funding, reports.

"We are taking every effort to create favorable conditions for attracting investments into the regional economy," Orlov said, according to "Realizing that their effectiveness depends on several factors: the presence of personnel, specially-crafted infrastructure, availability of land and financial resources, the authorities' willingness have a constructive dialogue and interaction with the business-- we have created a team that implements an integrated approach to the principles of project management to attract and support investors."

Following Orlov's presentation, the federal experts suggested the Sverdlovsk region continue to seek international investors. The panel also encouraged Orlov to study the development strategies of Singapore and Hong Kong-- the current global leaders in attracting investments, reports.