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Deputy PM: Russia interested in foreign investment in Northern Sea Route

The presidential envoy reminded the French entrepreneurs about the bills on state support for investors in the Russian Arctic zone that are to be reviewed soon

MOSCOW, July 6. /TASS/. Russia’s task is to make the Northern Sea Route a competitive year-round transport corridor, and the country is interested in foreign investment in infrastructure along the Arctic coastline, Deputy Prime Minister and Presidential Envoy to the Far Eastern Federal District Yuri Trutnev said at an online meeting with French businesses on Friday.

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"We set ourselves a task to make the Northern Sea Route a competitive transport corridor, which will work year-round, and thus Russia will continue building up its icebreaker fleet," the deputy prime minister’s press service quoted him as saying. "We are interested in foreign investments in ports, bunkering operations, and other infrastructure along the Arctic coastline."

According to the deputy prime minister, Russia and France have been cooperating in the Arctic more actively than in the Far East. He also reminded the French entrepreneurs about the bills on state support for investors in the Russian Arctic zone that are to be reviewed soon.

"The entire Russian Arctic will be a special economic zine, where long-term tax incentives will be offered to projects for the development of the shelf and to new projects in LNG, gas chemistry, mining, logistics, tourism and other sectors," he said. "A free customs zone will feature simplified export and import procedures."

The Northern Sea Route is the main marine shipping route in Arctic Russia. It passes along Russian northern shores over Arctic seas. The route integrates European and Far Eastern ports of Russia and navigable river outlets into a single transport system. Its length is 5,600 km from the Kara Strait to Providence Bay.

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