ST. PETERSBURG, June 19. /TASS/. A financial and economic model, calculating public and private investments in the Northern Sea Route (NSR), is necessary to develop NSR into of a competitive transport direction, the Arkhangelsk Region's Governor Alexander Tsybulsky said at the St. Petersburg International Economic Forum (SPIEF).
"The Northern Sea Route is a link and the main economic asset of the Russian Arctic, because without it would be impossible further development of the mineral resource base and production in the North. <...> We should make a financial and economic model in which [we need] to calculate what support we need from the government, in what amounts, with what priorities, we need to see economic efficiency, and to see, perhaps, what projects may be postponed for a long time," he said.
This comprehensive project has to bring initiatives from all authorities into one document , he continued. "We need a comprehensive project for development of the Arctic in Russia. <...> Thus, we need to see how the Arctic will develop, the economic efficiency, and how to combine all these sectoral initiatives into a single document. And then, probably for the first time, we will be able to structure a clear financial and economic model for the Russian Federation's Arctic Zone. This is extremely important and necessary," he explained.
The Murmansk Region's Governor Andrey Chibis stressed the Northern Sea Route should be a profitable and attractive route for carriers. "Our task <...> is to make the Trans-Arctic Corridor and the Northern Sea Route <...> profitable. This, of course, requires both public and private funding, and effective management," he said.
While speaking about cargo traffic along the Northern Sea Route, he noted the growing interest of shippers in the Arkhangelsk port. Sea transportation in the region has increased 1.3 times, he added. "Export-import cargoes: transshipment at our port has increased, it's almost three times higher than in the previous two years. We can see an increase in cargo traffic during the first four months of the current year by almost 10% compared to last year. At the same time, we have a decrease of almost 8% in the Arctic basin over similar 10 months," he said.
The Murmansk Transport Hub project will create a multimodal transport hub in the region, the governor continued. "The port has been built under the first port concession in this country - the Lavna port. It is big, high-tech, and very high-quality. Following instructions [from the president] to develop the Murmansk transport hub <...> [work is underway] to build up the terminals capacity and the railway's transportation capacity. <…> [This] develops the Murmansk agglomeration into a multimodal transport hub," he said.
About the forum
The St. Petersburg International Economic Forum (SPIEF) runs on June 18-21. This year, the event's theme is "Shared Values: The Foundation of Growth in a Multipolar World." Thematic zones such as the ‘Territory of Innovations’ and the ‘Buy Russian!’ national brand space operate at the Forum.
The program includes the SME Forum, the Creative Industries Forum, the Day of the Future International Youth Economic Forum, the Drug Security Forum, and the Roscongress Urban Hub discussion platform, as well as the Petersburg Seasons festival and the SPIEF Sports Games.
The Roscongress Foundation is the event's organizer. TASS is the forum's information partner.