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Some $20.8 bln worth of private investment injected into Russian Arctic over past years

The Arctic accounts for more than one quarter of the country’s whole territory, with around 2.5 mln people living there, Prime Minister Mikhail Mishustin noted

Russian Prime Minister Mikhail Mishustin Dmitry Astakhov/POOL/TASS

Russian Prime Minister Mikhail Mishustin

© Dmitry Astakhov/POOL/TASS

MOSCOW, October 22. /TASS/. Mechanisms of state support in Russia’s Arctic zone have allowed launching as many as 1,000 projects worth 2 trillion rubles ($20.8 bln) of private investment, Prime Minister Mikhail Mishustin said.

"We are implementing mechanisms for raising business activity, building necessary infrastructure. The world’s largest free economic zone and three territories of advanced development are currently in force there. Almost 1,000 projects with investment totaling around 2 trillion rubles are being implemented with the state support. I am only speaking about private investment," he said.

The Arctic accounts for more than one quarter of the country’s whole territory, with around 2.5 mln people living there, Mishustin noted, adding that it is necessary to create good conditions for doing business, comfortable living conditions in the Arctic for fully unlocking the potential of the region.

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Arctic Mikhail Mishustin

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