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Murmansk governor reports investment growth by 30%

April 26, 2018, 17:36 UTC+3 MURMANSK

The investments reached $1.75 billion, according to the governor

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MURMANSK, April 26. /TASS/. Investments in projects in the Murmansk Region in 2017 grew by 1.3 times year-on-year, reaching 110 billion rubles ($1.75 billion), the region’s Governor Marina Kovtun told local legislators on Thursday.

"Due to measures of state support, the investments exceeded 110 billion rubles," she said. "In terms of their growth - by 1.3 times - the region is the sixth in the country."

According to the governor, in 2017 the state support was offered to seven investors: three - in tax benefits and four - in renting land without trade. The region’s investment portfolio includes 16 agreements, where projects will offer 6,300 jobs.

Among the measures of support the governor named first of all the tax preferences, and also pointed at better business environment.

"We have been reducing time of administrative procedures," the governor said. "In the past year (2017), we cut by 4 times (to 7 days) work on cadaster formalities, <…> to 5 days - the time to receive construction permits."

Besides, the region has been using for two years a special trade platform for small contracts. The total cost of all the state small contracts traded there in 2017 reached 685 million rubles ($10.9 million).

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