Magadan region has implemented a regional investment standard
On October 13, at the site of Nizhny Novgorod Fair JSC, an Interregional investment Forum was held, at which the results of the implementation of the regional investment standard and the work of investment teams in 89 subjects of the Russian Federation were discussed.
Alexey Repik said that the regional investment standard is an ecosystem that unites different people to solve government tasks. “The request for change, constant movement forward, is necessary, above all, for young people, the generation that will get the benefit from the results of our joint work. We must expand investors’ awareness of the standard's instruments. I would like to note that the institute for verification and business surveys helps us to maintain the entire standard system at the proper level, and our next goal is to integrate the indicators of the implementation of the standard into the National rating system. The personal involvement of the investment team, close work with entrepreneurs, and desire to improve their activities are the key to further success and high approval rating of investors," he explained.
Murat Kerefov, Deputy Minister of Economic Development of the Russian Federation, also stressed that the regions will continue pay attention to work on improving the structure of the standard taking into account the requirements of Russian business:
“The most important thing in our work is the first results of the implementation of the standard. Businessmen consider the conditions for investment favorable, as shown by a poll from ANO Dialog. The system of the regional investment standard is already showing the first results: investment declaration, the work of development agencies, the Investment Committee, the set of investment rules and investment maps have already drawn people’s attention and received positive reviews from businessmen. We will definitely continue to improve the entire system of standards together with business associations, businessmen and representatives of regions; we will set up a feedback system, involve municipalities and implement lean manufacturing technologies as part of the entire investment process.”
The Magadan region has successfully become one of the 70 regions implemented all five elements of the investor relations standard (investment declaration, investment map, investment agency, Council for Improving the Investment Climate and a set of investment rules).
From 2024, compliance with the standard will be taken into account by the Agency for Strategic Initiatives when compiling a national rating of investment attractiveness of regions.
Irina Penevskaya, Minister of Economic Development, Investment Policy and Innovation of the Magadan region, noted that the results of the implementation of the regional investment standard are confirmed by the results of investor surveys: “We have done a lot of work in interaction and cooperation with business associations.”