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Russia's Karelia interested in attracting investments in republic’s Arctic districts

November 17, 18:09 UTC+3 PETROZAVODSK

Authorities of Russia’s Karelia Republic are interested in attracting investments in the Belomor, Loukh and Kemsk districts

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PETROZAVODSK, November 17. /TASS/. Authorities of Russia’s Karelia Republic are interested in attracting investments in the Belomor, Loukh and Kemsk districts, which in summer were included into Russia’s Arctic zone, the republic’s head Artur Parfenchikov told a meeting of the state commission on preparations for celebration of the region’s 100th anniversary.

"In 2017, thanks to the active support from the State Commission, we have implemented the initiative from Karelia’s government to include into the Russian Arctic zone three municipal districts in the republic - the Belomor, Loukh and Kemsk," he said. "Thus, we would participate in formation in those northern territories of a backbone Arctic zone. The Republic of Karelia’s government is very interested in attracting investments, in organization of new industrial facilities and of new infrastructures in the republic’s Arctic areas."

"We are asking the State Commission to support us in receiving a positive decision regarding organization of a backbone zone in the Republic of Karelia," he added.

During the Soviet Union, Karelia was not included in the Arctic zone, though half of the republic’s territory is in the Extreme North. On June 27, 2017, Russia’s President Vladimir Putin signed an order to include the republic’s three municipal districts into the terrestrial area of the Russian Arctic zone.

The Russian Arctic will have eight geographic backbone zones: Kola, Arkhangelsk, Nenets, Vorkuta, Yamal-Nenets, Taimyr-Turukhan, North-Yakutia and Chukotka.

The purpose for having the Arctic backbone zones is production of technical means and technologies, environmental monitoring, higher quality of life for indigenous low-number peoples, implementation of the information policy, and other priority tasks. The backbone zone’s approach will replace the earlier suggested industry-based division of the Arctic. Investors coming to these zones will enjoy tax, customs, and other benefits.

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