MOSCOW, November 7. /TASS/. Projects, being implemented in the Russian Federation's Arctic Zone, make one-fifth of the Russian economy, Minister for Development of the Far East and Arctic Alexey Chekunkov said.

"If we look at the contribution of Arctic projects into the GDP, into Russia's exports, they will make about one-fifth of our exports, one-fifth of our economy," he said at the Creating the Future international symposium.

The global economy cannot exist without enterprises of Norilsk Nickel, Novatek, Phosagro and Eurochem, he added.

Earlier, the minister said investments in projects implemented in the Arctic had exceeded 30 trillion rubles ($309 billion).

Russian Prime Minister Mikhail Mishustin said earlier that state incentives in the Arctic had favored implementation of 1,000 projects worth 2 trillion rubles ($20 billion) in private investments.