Tatarstan was among the first to introduce a regional investment standard

Tatarstan, along with 10 subjects of the country, has become a pilot region where the introduction of a regional investment standard has begun. The methodological recommendations of the Ministry of Economic Development will allow the subjects to start forming investment declarations, committees and development agencies.

The Ministry of Economic Development has approved methodological recommendations for the preparation of three elements of the regional investment standard. They are based on the best practices of subjects working with investors. The document was formed under the guidance of Andrey Belousov, First Deputy Prime Minister of Russia.

The topic of implementing the investment standard in the regions as a tool for stimulating and developing the business climate was touched upon yesterday at a meeting of the Cabinet of Ministers of the Republic of Tatarstan in his reports by the Director General of the Agency for Strategic Initiatives (ASI) Svetlana Chupsheva and the Minister of Economy Midhat Shagiakhmetov.

It was noted that the new standard for investments will be included in the National Rating of the investment climate of the subjects of the Russian Federation. The standard implies that the regions have an investment map, with its help, businesses will be able to get all the information about engineering and transport infrastructure, promising development points, tariffs, and support measures existing in the region.

Also, in order to create an optimal client path, the Ministry of Economic Development proposes to form investment declarations, committees and development agencies according to a single procedure.

The investment declaration contains the obligations of the region's leadership. In particular, non-deterioration of conditions, prompt consideration of disputes, strict compliance with the conditions for providing support measures to the investor. The declaration will also prescribe long-term plans for socio-economic development.

Investment development agencies will attract and advise investors, as well as accompany their projects.

Investment committees will become a platform for the prompt resolution of all issues in a pre-trial manner. First of all, disputes related to compliance with the obligations under the investment declaration, the set of investment rules, the fulfillment of the obligations of the subject and the investor. In addition, the committees will consider business proposals to reduce barriers that hinder the development of the region's economy.

"The regional investment standard sets uniform rules at the level of the constituent entities of the Federation. They are unified and understandable. The standard takes into account the best practices of the Agency for Strategic Initiatives in the field of investment activities accumulated since 2012. The new recommendations are designed to simplify the path of Russian and foreign investors to the regions," commented the First Deputy Prime Minister Andrey Belousov.

According to the Minister of Economic Development Maxim Reshetnikov, the new standard is designed to ensure healthy competition between regions, to make sure that all subjects meet the minimum set of requirements for the arrival of an investor.

"The subjects will decide on their own whether to follow the recommendations or not, but the approved plan for the implementation of the regional investment standard will provide subsidies to cover the loss of income when providing an investment tax deduction," the minister said.

In the Ministry of Economic Development, the development of the regional investment standard was led by the First Deputy Minister Andrey Ivanov. According to him, three more elements of the regional investment standard will be adopted by the end of the year. The investment map will be marked with data on infrastructure, resources, tariffs and support measures for a specific territory. All information about investment projects, the progress of implementation and obligations of the parties will be taken into account in the register of investment projects.

At the end of the year, the Ministry will approve a set of investment rules. It will prescribe the optimal algorithm for connecting to the infrastructure. 11 pilot regions will be the first to introduce the regional investment standard. Then the rest of the objects will take their experience.