Tatarstan adopted legal acts providing for agreements on the protection and promotion of capital investments at the regional level

The status of the preparation of regional regulatory legal acts necessary for the resumption of the process of concluding an SZPK was discussed today at a meeting with the First Deputy Prime Minister of the Russian Federation Andrey Belousov on the implementation of the Regional Investment Standard. The meeting was attended by Deputy Prime Minister of the Republic of Tatarstan - Minister of Economy of Tatarstan Midkhat Shagiakhmetov.

During the meeting, the work of the Government of the Republic of Tatarstan was noted, as a region that was one of the first among the constituent entities of Russia to adopt all regional regulatory legal acts to restart the SZPK mechanism. Legislative acts provide for a set of measures to ensure the protection of investments. The Cabinet of Ministers of Tatarstan approved:

- the procedure for evaluating an investment project, in respect of which it is planned to conclude an agreement on the protection and promotion of investments, for the effective use of funds from the republican budget;

- rules for concluding, amending, terminating agreements on the protection and promotion of investments to which Tatarstan is a party and Russia is not;

- the procedure for monitoring the fulfillment of the terms of the agreement on the protection and promotion of investments and the conditions for the implementation of the investment project in respect of which such a document is concluded, including the stages of its implementation.

The resolutions adopted in Tatarstan were developed in accordance with the general requirements approved by the Decree of the Government of the Russian Federation dated September 13, 2022 No. 1602 “On Agreements for the Protection and Promotion of Investments”.

The Law on SZPK will allow:

- stabilize tax and other regulatory conditions for up to 20 years;

- fix the inapplicability of acts that worsen the conditions of activity in the implementation of an investment project;

- provide for a condition for damages in case of violation of the agreement by the public law party;

- apply for state support in the form of a tax deduction and (or) reimbursement of costs for the creation of infrastructure facilities; to pay interest on loans, coupon income on bonded loans.

With the adoption of the resolutions, the process of forming the republican regulatory legal framework is being completed, which is necessary to restart the mechanism for concluding agreements on the protection and promotion of capital investments.

The entire procedure for concluding an SZPK, monitoring its implementation, and providing support measures will be carried out through the specialized state information system “Capital Investments”. It allows you to conclude SZPK in electronic form. Based on the system, a register of SZPK projects is maintained, their implementation is monitored, costs are reimbursed and tax deductions are provided.

“Along with the creation of favorable conditions for business, it is important to use existing support measures to stimulate investments, such as the mechanism of an agreement on the protection and promotion of capital investments, which opens up opportunities for the successful implementation of investment projects,” said Midkhat Shagiakhmetov.