MOSCOW, March 19, /ITAR-TASS/. Russia's Prime Minister Dmitry Medvedev will hold a conference Wednesday on the results of work to appraise the effectiveness of the activities of regional executive power bodies.
The RF government press service reported that those present at the conference would also discuss the introduction of a standard of the activities of regional executive power bodies to ensure a favourable investment climate and measures to raise the attractiveness of regions investment-wise and improve conditions for the conduct of business activities in the constituent entities of the RF.
Reimbursement of the regions' expenses on the establishment of infrastructure through returning Federal tax revenue resources in the form of additional inter-budgetary transfers.
First Vice-Premier Igor Shuvalov, Andrei Belousov, Assistant to the President of the Rf, Finance Minister Anton Siluanov, Regional Development Minister Igor Slyunyayev, Minister of Economic Development Alexei Ulyukayev, as well as governors of regions will participate in the conference.
The system for the evaluation of the effectiveness of the activities of regional executive power bodies was substantially renovated in August 2012; the number of indicators of effectiveness was cut down. Twenty regions achieving the best effectiveness value were given grants amounting from 243 million to 325 million roubles. The money was channeled into financing first-priority expenditure: reduction in the deficit of regional budgets, capital investments, and remuneration of work in the budget-supported sector.
A regional investment standard is the key project for the creation of favourable conditions for the transaction of busness in the regions. It has been prepared on the basis of international experience and the best regional practices.
The Russian Ministry of Regional Development, in conjunction with the Agency of Strategic Initiatives in promoting new projects, have worked out an organizational procedure and algorithm of work, and methodological recommendations on an effective introduction of the regional investment standard, developed software for an substantive audit of introduction efforts. Towards the end of 2013, all the constituent entities of the RF joined in the introduction of the regional investment standard.
On an instruction from the President of Russia, work has been under way since December 2013 to introduce amendments to legislation to provide for reimbursement of the expenses of the regions on the establishment of infrastructure of industrial parks, technological clusters, and business incubators. Expenses are to be reimbursed through a return of Federal tax revenue coming in the course of three years from new enterprises in the form of additional inter-budgetary transfers.