ST. PETERSBURG, December 11. /TASS/. Investments in the Krasnoyarsk Region's economy over recent 5 years grew by more than 80%, and in 2023 investments in the region will make more than 900 billion rubles ($9.8 billion), which is a record, the Krasnoyarsk Region's Deputy Minister of Economy and Regional Development Olesya Ardasova told the Arctic: Present and Future international forum.

"Over the recent five years, the increase in investments in the economy has made about 80% in current prices, and in 2022 it reached 750 billion rubles ($8.2 billion), which is the 8th place in the country. Right now, we can see a significant increase in investments by 13% in comparable prices, which gives us reasons to believe that in 2023 the investments will exceed 900 billion rubles," she said.

The Krasnoyarsk Region's almost 90% of the investment portfolio falls on the Arctic zone, she continued. High investment attractiveness indicators are due to the regional incentives - almost all tools available under the federal law have been implemented there. The local authorities do not plan additional tax incentives, since they are already at a high level.

One of the most important tools is the Register of the Arctic zone's business residents, which now has 31 companies working in mining, tourism and services. Another 42 companies are processing formalities - their investments will make 4 billion rubles ($45 million), and they will create about 2,500 jobs.

The largest current investment projects, the official continued, are the Syradasai coal deposit by Severnaya Zvezda, the Norilsk Nickel Company's projects, Vostokugol Dixon's development of the Taimyr coal basin's northwestern part, and the construction of the first stage of a mining and processing plant at the Chernogorsky copper-nickel ore deposit with the annual capacity of 7 million tons.

"The region has implemented significant measures to increase the investment attractiveness, and a new investment cycle has been launched. The region's competencies and resources, the active work favor maintaining the current high level of investment activity and increasing it despite the current restrictions," she said.

Investments in environment

In addition to direct investments in commercial projects, the businesses operating in the region are actively investing in social infrastructures, primarily in the Arctic zone. According to Alexey Pinchuk, Norilsk Nickel's Director of the Department of Federal and Regional Programs, the company will invest about 200 billion rubles ($2.2 billion) in the Sulfur Program to make clear the air in Norilsk.

Norilsk, according to the environment watchdog Rosprirodnadzor, leads among Russian cities polluting the atmosphere.

According to Nornickel's representative, the Sulfur Program will improve radically the environmental situation. Under the public-private partnership, Norilsk Nickel also invests in the upgrade of the Norilsk Airport, in the development of housing infrastructures, as well as in fiber-optic networks in the region.

"The latest trend in Norilsk is that we have a very high birth rate growth compared to other cities not only in the Arctic, but across Russia. <...> The city is becoming comfortable to live in, people realize not only they live there, but their children, too. Great efforts have been invested in the development of the Polar State University, and we wish both Norilsk residents and students from other Russian regions studied there," he said.

About forum

The 13th international forum Arctic: Today and the Future took place in St. Petersburg on December 7 and 8. The forum was organized by the interregional non-governmental organization Association of Polar Explorers with the support and participation of the Federation Council, State Duma, and the Ministry for the Development of the Far East and the Arctic, the Ministry of Foreign Affairs, and other relevant ministries and agencies. The MMC Norilsk Nickel was the forum’s general partner, and the VTB Bank was the event's official sponsor. TASS was the forum's general information partner.