Industrial policy pursued in the republic considered priority directions of economy development defined by the Concept of social and economic development of the Republic of Karelia for the period through to 2012, and it has been directed on solution of tasks set in the Program of economic and social development of the Republic of Karelia for the period through to 2010:
- creation of conditions for steady economic growth, modernization of economy;
- assistance to involvement of investments into creation of new enterprises and new workplaces, improvement of investment prospects of industrial enterprises;
- assistance in organization of release of competitive innovative production;
- increase of efficiency of using all kinds of resources;
- assistance to development of personnel potential. Realization of personnel policy directed on maintenance of needs of enterprises of industrial complex in highly skilled engineering personnel and manpower;
- creation of conditions providing social stability and increase of wages at enterprises of industrial complex;
- development of optimum forms of cooperation and dialogue of bodies of the government of the Republic of Karelia and business.
With a view of involvement of investments, support and realization of large investment projects was provided, support was rendered to investors according to the Law of the Republic of Karelia On Government Support of Investment Activity in the Republic of Karelia.
Government of the Republic of Karelia paid special attention to realizations of actions aimed at creation of workplaces due to involvement of investments. From planned for creation 9 thousand workplaces for the period up to 2010, in 2007 it has been actually created 2190 places (1030 places in 2006).
In 2007, at establishing electric energy tariffs for industrial consumers, the order of establishing lower tariffs for large power-intensive consumers, such, as Oktyabrskaya railway, Inc., NAZ-SUAL branch, Karelsky Okatysh, Inc. was kept. The opportunity to decrease the tariff by 13.5% was given to all consumers with over 7000 hours of annual quantity of use of declared capacity.
Privileges in corporate property tax established by the Law the Republic of Karelia On Taxes (Rates of Taxes) and Duties in Territory of the Republic of Karelia were preserved for investors, organizations, engaged in logging, timber processing and produñing woodwork, production of machinery for forestry, construction and repair of vessels, clothes production, fur currying and dyeing.
To provide performance of forecasted parameters and increase of efficiency of use of resources work with the largest enterprises of the republic proceeded.
Monitoring of realization of Agreements on interaction and cooperation of the Government of the Republic of Karelia with Karelsky Okatysh, Inc., Pitkäranta Pulp Mill, Inc., Kondopoga, Inc., Oktyabrskaya railway, Inc., was held monthly.
The Cooperation agreemen is concludedt between the Government of the Republic of Karelia and Administration Sortavala municipal unit, Wärtsilä urban settlement administration and Wärtsilä Hardware Plant Joint Stock Complany for 2008, including obligations of the enterprise to increase incomes of the budget for realization of actions of social and economic development of Wärtsilä urban settlement.
Besides, and Agreement was concluded between the Government of the Republic of Karelia, Bank of Moscow, Inc., and Investlesprom Joint Stock Complany on development of timber industry complex of the republic in 2007-2012.