ANATOLY GOLOMOLZIN: FAS AND THE YUGRA GOVERNMENT HAVE A BROAD FIELD FOR COOPERATION AND ATTRACTING INVESTMENTS

On 25 July 2019, during a visit to Khanty-Mansiisk, Deputy Head of FAS discussed the Programme for increasing investment attractiveness of the Khanty-Mansiisk Autonomous District - Yugra

Representatives of the regional, the antimonopoly body and business attended the meeting

They supported the Action Plan on improving the investment climate in the Khanty-Mansiisk Autonomous District - Yugra. The Economic Development Department will make the final draft to be approved by the regional Government. The amendments to the Plan are caused by the need to improve the outcome of Yugra in the National Investment Climate Ranking of the regions of Russia.

Yugra Governor Natalia Komaroiva stated: “I would like to specially highlight the work on developing growth points for economic potential of municipalities in view of the specifics of climate, nature, geography, infrastructure and other factors of social-and-economic development. As a result, investors in the Khanty-Mansiisk Autonomous District get a “guidebook” describing competitive advantages and potential for every area. Reorienting state support measures to stimulate businessmen to invest profit, expand their business is a new approach. The Action Plan should enhance efficiency of the efforts to improve the investment climate, stimulate investment activities in the Khanty-Mansiisk Autonomous District”.

Anatoly Golomolzin pointed out that there is a broad field for cooperation between FAS and Yuga Government in terms of improving the investment attractiveness of the region, particularly, in developing exchange trade with timber.

“Exchange trade not only improves pricing transparency and develops modern tools for doing business, but also solve the problems that for years seemed unsolvable, particularly curtailing gray turnover practices.  Entry of wood cutting companies to exchange trade with timber resulted in multiple increases of timber prices. The money that used to go to non-productive resellers now reached state-run companies. They could spend them to support their performance, purchase new equipment, and build production and social facilities. In some regions of Russia decision is made that timber companies should sell 100% of their products through the exchange. The obvious advantages for the economy include employment, additional revenue to the budget due to taxation and customs payments. It is not a coincidence, therefore, that the Federal Tax Service and the Federal Customs Service are involved in our work”, informed Deputy Head of FAS.

«”Such projects on creating new commercial infrastructure are breakthroughs, systemic and they improves considerably efficiency of both business and public administration. Therefore, it is essential to discuss exchange trade development not only under the frame of the Road Map on Competition but also under the Programmes for increasing investment attractiveness of the region”, concluded Deputy Head of FAS.