Dear friends,
St. Petersburg stands as one of Russia's foremost business hubs, boasting a diverse economy, a robust pool of skilled human resources, well-developed infrastructure, and an inviting investment climate. The advantages and benefits of Russia's Northern Capital are abundant.
Our investment policy in St. Petersburg is committed to fostering key sectors within the city's economy, such as industry and the transport and logistics complex. We provide support to existing enterprises and organisations while simultaneously establishing new tourist and recreational clusters. We also place a strong emphasis on preserving our invaluable historical heritage and ensuring the modern utilisation of historical buildings.
Our investment policy in St. Petersburg is committed to fostering key sectors within the city's economy, such as industry and the transport and logistics complex. We provide support to existing enterprises and organisations while simultaneously establishing new tourist and recreational clusters. We also place a strong emphasis on preserving our invaluable historical heritage and ensuring the modern utilisation of historical buildings.
The appeal of the investment climate in the Northern Capital primarily stems from the successful practice of granting strategic investment project status to outstanding initiatives from the business community.
In 2022, the economy of St. Petersburg received a substantial RUB 997.5 billion in fixed capital investments. This impressive level of investment activity has enabled the city to retain its top position in attracting investments among all the regions in our country.
In collaboration with local enterprises, the Regional Union of Industrialists and Entrepreneurs, and the industry departments of the Russian Ministry of Industry and Trade, St. Petersburg's industrial policy has been developed and is currently being effectively implemented. One of its primary goals is to encourage further investment growth.
Working closely with business and expert communities, we are continuously enhancing legislation and mechanisms for attracting investments while simplifying administrative procedures. Projects in priority industries benefit from property and tax incentives and receive comprehensive support from the Government of St. Petersburg.
We've created an environment conducive to the practical implementation of offset contracts, enabling businesses to invest in the creation, modernisation, and mastery of industrial products essential to the city. In return, St. Petersburg commits to long-term purchases. In January 2023, we celebrated a significant milestone with the signing of the first such contract for the establishment of a new pharmaceutical production facility.
St. Petersburg effectively employs the Regional Investment Project and Large-Scale Investment Project mechanisms. Additionally, a promising tool in our arsenal is the Regional Investment Standard, a comprehensive mechanism for supporting investors. Its various components are already proving successful in the City on the Neva.
extend a warm invitation to everyone interested in exploring the investment opportunities in St. Petersburg and joining us in our cooperative efforts.
Welcome to St. Petersburg!
A.D. Beglov Governor of St. Petersburg