Tatarstan is recognized as the best among the regions in terms of investment climate in Russia

7 June 2019, Friday

Tatarstan is recognized as the best among the regions according to the results of the National Rating of the Investment Climate in constituent entities of the Russian Federation. The assessment took into account the level of support for small businesses, the development of business institutions, infrastructure and resources, as well as the regulatory environment. According to the general results, the capital of Russia was the first to be recognized among all the entities of the Russian Federation.

The results were announced at the St. Petersburg International Economic Forum. The overall results of Moscow were 283.6, of the Republic of Tatarstan - 283.3.

The national rating assesses the efforts of regional authorities to create a favorable business environment and identifies best practices. The assessment is carried out on 44 indicators and 4 areas: the regulatory environment, business institutions, infrastructure and resources, small business support.

For the 5th year in a row, Tatarstan is among the top three leaders of the National Rating of the investment climate in the regions of the Russian Federation. Including, three times the Republic occupied the first line of the rating. The share of investment in the republic's GRP over the past 10 years on average annually exceeded 30%, which is consistently higher than the average Russian level.

Today a portfolio of about 50 investment projects for a total amount of 5 trillion rubles in different areas has been formed in the Republic of Tatarstan. Their implementation will make it possible to achieve a volume of GRP of the republic of 5 trillion rubles by 2030.

“Tatarstan has become the best among the regions of Russia in terms of investment climate. This high score is an indicator of our systematic work in all priority areas of entrepreneurship development. The results of this work demonstrate positive dynamics in all key areas: in work to ensure better conditions for our entrepreneurs, investors, all business entities of the republic, - said the Minister of Economy of the Republic of Tatarstan Farid Abdulganiyev. - For the year, we have developed and started to introduce new practices and tools for developing entrepreneurship in Tatarstan and will strive not only to maintain a high level of investment attractiveness of the republic, but also to share best practices with other regions”.

For the development of investment attractiveness of each municipality of Tatarstan, its own action plan was adopted to improve the business climate. Much attention was paid to feedback and adjustment of work on its basis.

To simplify business procedures and increase the investment attractiveness of Russian regions, 12 target models were approved. At the end of 2018, the performance of all 12 target models in the Republic of Tatarstan was 96.2%. 9 models are 100% complete, including “Availability and quality of regional legislation on mechanisms for protecting investors and supporting investment activity”, “Effectiveness of feedback and working channels of direct communication between investors and the administration of a constituent entity of the Russian Federation”, “Efficiency of a specialized organization attracting investments and working with investors” , “Quality of the investment portal of a constituent entity of the Russian Federation”.

Among the best practices of Tatarstan, reflected on the level of investment attractiveness, several unique projects for Russia were noted:

The “Verified Business” information portal is a unique project of the Republic aimed at reducing administrative pressure and violations in the sphere of control and supervisory activities.

Unified credit center. Through it, entrepreneurs can submit an application for attracting debt financing on the “single window” principle online (50 financial organizations (banks, leasing companies) and funds providing financial support to SMEs participate in the project; 57 applications for the amount of 1.6 billion rubles were approved in 9 months of work of the center.

The system of market promotion of products manufactured in Tatarstan. The system developed by the Ministry of Economy will allow entrepreneurs to identify new investment niches, develop production and create new jobs. The list of needs will be formed on the basis of information on products purchased by the republic. Tatarstan businessmen will be able to get data on the platform of the “Exchange Platform”.

For reference:

The national rating of the investment climate in the regions of the Russian Federation is a strategic initiative implemented since 2014. It is aimed at creating an objective system for assessing the investment climate in the regions, encouraging competition for the quality of the investment climate at the regional level and ensuring the exchange of best practices. In accordance with the methodology, the indicators are calculated on the basis of objective statistical data on individual factors, the assessment of regional experts (mainly representatives of public organizations), and also according to a survey of entrepreneurs.

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