INVESTMENT STANDARD

Saint Petersburg Investor's guide

The Agency for Strategic Initiatives developed a country-wide Performance Standard for regional government authorities seeking to create a favourable investment climate in a region.

Introduction of the Investment Standard in St Petersburg will advance the creation of a favourable investment environment to enhance investment flows into the region by adopting best Russian and international practices of interaction between regional authorities and businesses.

INVESTMENT STANDARD IS A SET OF REQUIREMENTS WHICH, WHEN SUCCESSFULLY IMPLEMENTED, WILL ENHANCE INVESTMENT FLOWS INTO REGIONS AND BUILD AN EFFICIENT INFRASTRUCTURE FOR COMMUNICATIONS BETWEEN REGIONAL AUTHORITIES AND BUSINESSES

St Petersburg has introduced all provisions of the Investment Standard:

1. APPROVAL OF A REGIONAL INVESTMENT STRATEGY BY THE REGION’S GOVERNMENT AUTHORITIES
2. REGIONAL INVESTMENT PROJECTS AND INFRASTRUSTURE FACILITIES PLAN DEVELOPMENT AND ANNUAL UPDATES

St Petersburg has developed and annually updates a Targeted Investment Programme, which designates projects to be constructed in the city and financed by the municipal budget.

The Targeted Investment Programme was formulated in line with the Strategy for the Economic and Social Development of St. Petersburg until 2030. The Programme does not include projects implemented by public-private partnerships.

3. INVESTMENT CLIMATE AND INVESTMENT POLICY OF THE REGION” ANNUAL GOVERNOR’S STATEMENT

The Charter of St Petersburg specifies the Governor’s duty to submit to the St Petersburg Legislative Assembly an annual public report on the Government performance in the elapsed year.

On 13 April 2016, the Governor of St Petersburg made his regular annual public report. A separate section traditionally covered the city’s investment climate and investment policy with statistical highlights and rankings by leading rating agencies.

4. REGULATIONS ON INVESTOR RIGHTS PROTECTION AND INVESTMENT SUPPORT FRAMEWORK

St Petersburg approved a number of regulations to protect investor rights and support investments.

5. INVESTMENT BOARD FOR CLIMATE IMPROVEMENT
6. AGENCY FOR INVESTMENT PROMOTION AND INVESTOR RELATIONS

Paragraph 1.7 of the Regulations on St. Petersburg’s Investment Committee approved by Resolution of the St Petersburg Government No. 1042 dated 27 September 2012 says that the Committee supervises St Petersburg’s Agency for Strategic Initiative and St Petersburg’s Investment Directorate.

In pursuance of paragraph 1 of Resolution of the St Petersburg Government No. 1001 dated 2 November 2015 On Reorganisation of the Investment Directorate, the Investment Directorate will be reorganised through a takeover of the Agency for Strategic Initiative.

7. ACCESSIBLE INFRASTRUCTURE FOR PRODUCTION FACILITIES AND OTHER INVESTMENT PROJECTS

St Petersburg runs a developed framework of interrelated facilities to manage and promote the implementation of investment projects. The city has industrial zonesand aspecial economic zone..

8. PROFESSIONAL TRAINING AND RETRAINING PROGRAMMES TO MEET THE REGION’S INVESTMENT STRATEGY AND INVESTOR NEEDS

St Petersburg offers a number of professional training, skill improvement, and retraining programmes, including:

  • Promotion of Employment in St Petersburg for 2015–2020 (government programme).
  • Promotion of Education in St Petersburg for 2015–2020 (government programme).
  • Economic Development and the Knowledge Economy in St Petersburg for 2015–2020 (government programme).

The Committee for Science and High School keeps St Petersburg citizens informed about options available at its educational institutions in professional training, retraining, and skill improvement

9. DEDICATED BILINGUAL INVESTMENT PORTAL

St Petersburg maintains a dedicated investment portal.

The investment portal content is regularly updated, including information on ongoing and planned investment projects, and publishes the Investment Committee news.

To optimise this Internet resource, the website structure and feedback service were to a large extent upgraded in 2016.

A potential investor can now create a personal account and request the Committee for necessary support of an investment project or assistance in land plot selection.

10. COMMON RULES FOR INVESTMENT PROJECT SUPPORT THROUGH A “ONE STOP SHOP“ SERVICE

To ensure comfortable and transparent interaction between businesses and authorities in investment projects implementation, St Petersburg has set up an investor “one stop shop” service.

To ensure efficient functioning of the “one stop shop” service available with the Investment Directorate at 1–3 Zodchego Rossi St., the “one stop shop” front office was organised. It has operated since 3 August 2015.

11. ADOPTION OF THE REGION’S INVESTMENT THESIS BY THE GOVERNOR

In June 2013, the Governor of St Petersburg adopted Resolution No. 33-pg dated 19 June 2013 On St Petersburg Investment Thesis, which sets forth basic interaction principles between investors and authorities.

12. REGULATION GOVERNING THE REGULATORY IMPACT ASSESMENT PROCEDURE FOR EXISTING AND FUTURE INVESTMENT REGULATIONS

The St Petersburg Legislative Assembly adopted St Petersburg Law No. 682-125 dated 4 January 2013 On the Procedure for Regulatory Impact Assessment of Draft Regulations Governing Business and Investment Activities and Review of St Petersburg Regulations Governing Business and Investment Activities.

13. EMPLOYEE TRAINING, COMPETENCE IMPROVEMENT AND APPRAISAL FOR OFFICERS OF SECTORAL AUTHORITIES AND AGENCIES FOR INVESTMENT PROMOTION AND INVESTOR RELATIONS

The St Petersburg Governor’s Office provides skill improvement courses for public officers engaged in investments and investment process management. In 2015, 52 public officers completed skill improvement courses in the following areas: Management of Public-Private Partnership Projects in Russian Regions, Investment Project Management, Investment Infrastructure Project Management. The training courses will be held annually.

14. MEMBERSHIP OF ENERGY CONSUMERS IN ST PETERSBURG’S REGIONAL ENERGY COMMISSION (REGIONAL GOVERNMENT AUTHORITY FOR TARIFF REGULATION), AND COLLEGIAL CONSULTATIVE BODY UNDER THE COMMISSION WITH BUSINESS COMMUNITY MEMBERSHIP

Resolution of the Governor of St Petersburg No. 49-pg dated 2 July 2014 set up an Intersectoral Consumer Protection Board for Natural Monopoly Entities under the Governor of St Petersburg and approved Regulations on the Intersectoral Consumer Protection Board for Natural Monopoly Entities under the Governor of St Petersburg.

The first meeting of the Intersectoral Consumer Protection Board was held on 28 October 2015 chaired by Georgy Poltavchenko, the Governor of St Petersburg.

15. DIRECT COMMUNICATIONS BETWEEN INVESTORS AND THE ST PETERSBURG GOVERNMENT FOR PROMPT RESOLUTION OF INVESTMENT-RELATED ISSUES AND CHALLENGES

St Petersburg maintains a number of communication channels between investors and the St Petersburg Government to promptly resolve investment-related issues and challenges.

They include one-on-one meetings of the Governor of St Petersburg and business community representatives, meetings at St Petersburg’s Investment Committee, and meetings of consultative and advisory bodies under the Governor of St Petersburg:

In addition, anyone may ask the Governor a question through theelectronic reception serviceon the official web portal of the St Petersburg Administration at www.gov.spb.ru, and аny investor may request information through their personal accounts on the investment portal.