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Russian strategic initiatives agency: strong incentives offered for investors in Crimea

March 19, 2014, 21:06 UTC+3 GORKI
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GORKI, March 19, /ITAR-TASS/. Republic of Crimea and the city of Sevastopol will be able to use by summer 2014 a package of new investment incentives designed by the Russian government, the head of Russia’s Agency for Strategic Initiatives, Andrey Nikitin, announced on Wednesday after a meeting that focused on the stimulation of economic activity in Russian regions and was chaired by the Russian Prime Minister Dmitry Medvedev.

Nikitin said he would visit that region within the next two weeks in order to start working on new projects.

“We consider Crimea and Sevastopol as common Russian regions we have to work with,” he said. “The most important thing now is to create a platform for investors and to make it clear to them what they can hope for - which incentives they can use and in what way the administration will support them.”

In this regard, Nikitin noted with regret that “the situation [with the investment climate] in Ukraine and especially in Crimea is considerably worse than in the neighbouring regions of Russia”.

Crimea was funded far below its actual needs, he said, noting that, at the same time, the region offered excellent potential for growth and was particularly attractive in terms of tourism.

“At the prime minister’s meeting today, we have agreed on strong incentives [to attract investors], which Crimea will be able to use already this coming summer,” Nikitin said.

The autonomous non-profit organisation called the Agency for Strategic Initiatives to Promote New Projects was established in August 2011 in order to promote social and professional mobility of young professionals and teams in medium-sized businesses and the social sector by supporting socially significant projects and initiatives.

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