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Attracting investments to the economy is among the top priorities of the Russian authorities both at the federal and regional levels. To this end, special economic zones, advanced development territories, business accelerators are set up, mechanisms to liaise with business are established, etc. The investment climate in Russia is really improving, but not universally yet.
The Russian economy should develop based on an active investment policy – this is the goal pursued by the country’s authorities.
In recent years, investments in the Russian economy have been declining: in 2016, the drop was 0.9%, in 2015 – 10.1%.
To reverse the situation, the government has recently created a number of tools to attract investments, also foreign ones. These include:
The investment climate in the country is being closely monitored. Back in 2012, Vladimir Putin signed a decree on the long-term economic policy, setting a target to improve Russia’s position in the World Bank’s Doing Business index, specifically, to rise from the 120th line in 2011 to the 20th in 2018. In 2017, Russia took the 40th spot on the ranking. To that end:
In previous years, Tatarstan, Belgorod and Kaluga regions led the National Rating of Investment Climate. They succeeded by creating special economic zones, technology parks, business accelerators, by introducing incentives for investors and developing infrastructure.
Today, Tatarstan raises around USD 2 million of direct investment per day. In 2016, the region’s investment inflows totalled RUB 642.5 billion, while the Belgorod and Kaluga regions managed to raise RUB 143.8 billion and RUB 80 billion, respectively.
Targeted models of easier doing business, selected by the government based on best practices, are expected to help lagging regions. These regions should draw up their roadmaps set to improve the investment climate on their basis.