The key trend in the development of St. Petersburg's economy is attracting investments
The volume of investments in the economy of St. Petersburg in 2023 amounted to almost 1.2 trillion rubles. In comparable prices, this is 3.4% higher than the level of the same period in 2022. The indicator is a record for the city and corresponds to the solution of the strategic tasks set by the President. This was announced by Governor Alexander Beglov at a meeting of the city government, which summed up the results of the socio-economic development of St. Petersburg in 2023.
The record volume of investments is the result of timely measures taken to support business at both the federal and regional levels.
"Through joint efforts, we have created a comfortable investment climate, and our enterprises are investing in development. Last year, the organizations of the St. Petersburg processing complex alone invested more than 102 billion rubles in their own expansion – 21% more than a year earlier. This indicates their confidence in the future. It is profitable to invest in St. Petersburg today," Alexander Beglov noted.
The largest share of investments is in industry — 209.4 billion rubles, transportation and storage — 204.3 billion rubles and real estate transactions — 91.3 billion rubles; 8.8% of the total volume, or 80.8 billion rubles, accounted for trade. The funds attracted to the IT sector increased to 61.3 billion rubles. Entrepreneurs have invested almost 62 billion rubles in the field of education.
In 2023 and the first quarter of 2024, a number of new measures aimed at increasing investment activity were implemented in St. Petersburg, including:
- the Regional Investment Standard of St. Petersburg has been developed and implemented;
- the resolution of the Governor of St. Petersburg dated 02/28/2023 No. 16-pg "On the investment Declaration of St. Petersburg" was adopted;
- the regulations for maintaining the investment map of St. Petersburg have been approved, the presentation of the investment map in the unified reference and information system "Development of the territory and real estate of St. Petersburg" on the investment portal of St. Petersburg at: https://spbinvestment.ru/ru/map;
- the Law of St. Petersburg has been adopted to provide real estate for education and healthcare facilities - investors will be able to receive a building, structure, structure, object of unfinished construction from the city's property if they are engaged in its reconstruction and adaptation for modern use - they will create a medical institution there, a pre—school education facility from 160 places or secondary general education for 550 places and more;
- A draft law has been developed and adopted by the Legislative Assembly in the third reading.‑St. Petersburg, updating the status of a strategic investment project and a list of areas for assigning strategic status to an investment project – the document establishes new indicators of the required volume of investment that most fully correspond to the state of the economy and the needs of the city;
- regulatory legal acts of the Government of St. Petersburg have been adopted, allowing projects to be implemented on the territory of St. Petersburg using the mechanism for protecting and encouraging capital investments, which can significantly improve the investment climate, - the NWPC mechanism provides the investor with the opportunity to compensate for part of the costs incurred for the implementation of an investment project;
- the investment portal of St. Petersburg has been updated.
An investment map is integrated into the portal, built on the basis of the Regional Information System "Geoinformation System of St. Petersburg" (RGIS) - it provides an opportunity to get acquainted with free investment sites in the city online. Also, a tab has been created on the investment portal with existing support measures and tariffs in St. Petersburg.
In 2023, the portal recorded more than 700 000 visits, confirming its role as a key tool for potential investors interested in conducting investment activities in our region.
In the first quarter of 2024, according to the indicator of appeals from potential investors, compared with the same period in 2023, there was an increase in the number of applications for the provision of real estate for investment purposes (by about 20%). At the same time, the number of applications for the implementation of social projects increased by more than a quarter compared to the same period last year.