The Investment Committee launches a road map to increase the investment potential of St. Petersburg
The Government of St. Petersburg has approved a road map to increase the growth rate of investments in the municipal fixed assets, which is developed by the Investment Committee.
The objective of the approved action plan is to minimize negative economic processes, improve the investment climate, as well as support the business community and attract investment to the economy of St. Petersburg.
“There has been a difficult global economic situation in 2020, and the anti-epidemic restrictions in St. Petersburg have also negative effect on the key sectors of the economy,” said Roman Golovanov, Chairman of the St. Petersburg Investment Committee. - Nevertheless, we have to work for the future and start implementing a plan to achieve national goals for the next 10 years. The road map we have developed is aimed at the economic tasks set by the Federal Government for all regions of Russia, taking into account the calculation methodology proposed by the Ministry of Economic Development".
The activities included in the roadmap are grouped in five areas:
- State support for investment activities,
- Improvement of regional legislation,
- Promotion of investment potential,
- Reducing administrative barriers,
- Support for investment projects.
As Roman Golovanov said, the road map will promote systematic development of already existing state support activities, including tax incentives, and integration of new tools: Regional Investment Project (RIP) and Investment Protection and Promotion Agreements (IPPA).
Implementation of the roadmap will start in 2021. In addition to the Investment Committee, it provides for participation of the industrial, property and financial Departments of the Government of St. Petersburg.