The Official Karelia
  Русская версияEnglish versionSuomalainen versio
  |About Karelia |Symbols   |Tourism |  Cooperation |

Social and Economic development of the Republic of Karelia in 2009

  Public
  Administration


  Economic Policy

    Economic Policy

    Investment
    and Construction


    Small And Medium
    Enterprises


    Innovation Development

    Industrial Policy

    Agroindustrial Complex

    Services

    Natural Resources
    and Ecology


  Cooperation

  Results of 2009

Investment Policy

In 2009 the Government of Karelia continued realization of regional investment policy which priorities are increase of the level of investment prospects of the republic through development of its investment image and resource potential of the territory, rendering state support to the investors introducing investment projects in the region, and involvement of additional resources in the economy.

Implementation of the investment course was conducted in the severe constraints of the financial and economic crisis which has caused reduction of plans of investment development of the region and the necessity to decrease the crisis risks.Therefore, in 2009 within the scope of implementation of the Guidelines of Investment Policy of the Government of the Republic of Karelia for 2007-2010, there have been developed and introduced the investment activities directed on preservation of the investment potential of the republic.

With a view of minimization of investment losses the Government of the republic has realized the complex of compensatory measures: the system of the state support of investment activity was kept and amplified; the Order of granting state guarantees of the Republic of Karelia for realization of investment projects was developed; guidelines for participation of the bank community of the republic in implementation of anti-recessionary measures including crediting of investment projects on the state security of the republic, preservation of rates for earlier issued credits; the budgetary bid campaign for 2009 was held as a result of which it has been allocated 2,2 billion roubles of federal capital investments within the framework of federal target programs and federal address investment programs.

With a view of development of the investment image of the region pursuance of policy of territorial marketing continued.

The next information and analytical release The Investment Karelia in Russian and English languages was issued. The edition has an appendix in the form of a DVD with the applied data on investment and innovative projects and investment sites of the republic.

Work on development of the structure The Republic of Karelia for Investors Web-site continued. In the part concerning The Investment Activity there has been estblished a new subsection Involvement of Federal Budgetary Investments. Actualization of the news section is organized in in the continuous mode. The Project Waiting for its Investor database currently containing 30 investment and innovative projects and offers which implementation requires involvement of investments is amplified.

For popularization of the site a number of measures has been undertaken: a banner on the http://petrozavodsk.ru portal was made and located, monthly advertising of the investment site of republic on Yandex. Direct is organized, presentation of the portal The Republic of Karelia for Investors within the scope of the Softool 2009 exhibition in Moscow was held. As a result of actions of the information resource promotion the user activity has grown more than 1.5 times, from 11,700 users registered in 2008 up to 18,000 in 2009.

On results of the rating research conducted on results of 2008 by The Capital of the Country Internet-magazine together with Chamber of Commerce and Industry of the Russian Federation, on the information openness of the investment markets Karelia is the seventh best among the 83 regions of Russia.

The Government of the Republic of Karelia continues activity on presentation of investment potential of the republic.

Within the framework of the Days of the Republic of Karelia in Moscow (August, 2009) there have been held presentations of large investment projects of the region on development of the maritime transport system of Karelia (deep-water sea port to be constructed in Belomorsk), production of building materials (production of heat-insulating tiles on the basis of basalt) and foodstuff (production of food on the basis of fruit and berries in Petrozavodsk), as well as in the field of culture (construction of multipurpose expocentre as a part of the social and cultural center in Petrozavodsk).

During the International investment forum "Sochi-2009" (September) the Karelian delegation has presented the regional investment project on construction and reconstruction of water and wastewater treatment facility in Petrozavodsk (the IInd phase). As a result there has been concluded an agreement with the Ministry of Regional Development of Russia about granting budgetary appropriations of the Investment fund of the Russian Federation for its implementation.

Within the scope of the EuroRussia Forum project in Petrozavodsk (November, 2009) there have been discussed aspects of development of the Technological Village Russian-Finnish project, as well as offers on creation of the "anchor" companies for development of technoparks.

There operates the system monitor researches (analytical monitoring of development of investment activity; monitoring of investment projects introduced in the region; monitoring of the Program of creation of workplaces on the basis of implementation of investment projects).

The interdepartmental working group on assistance in involvement of investments into economy of the republic chaired by the Prime Minister of the Government of the Republic of Karelia continued its work. There have been held 12 working sessions which considered investment projects of 25 organizations, including projects of Norit Joint-Stock Company (the Pudozh megaproject), Karelian enterprise of bulk power systems, the branch of the Federal Grid Company of the Unified Energy System of Russia, Inc., (construction of a transit high-voltage line between the Kola atomic power station of Murmansk area and Ondskaya hydroelectric power station), manufacturing company Yagoda Karelii (Berry of Karelia), Ltd. (organization of production of food on the basis of fruit and berries, Petrozavodsk), Zapkarelles Joint-Stock Company (construction of a factory producing furniture components and fuel granules, Suojärvi region), Swedwood Karelia, Ltd., (construction of furniture factory, Kostomuksha), Woodworking Plant of Kalevala, Ltd., (construction of the enterprise producing oriented strand boards, Prionezhsky region), Petrozavodsk branch of Oktyabrskaya Railroad – branch of Russian Railways, Inc., (reconstruction of the railway infrastructure in territory of the republic).

In 2009 a number of agreements on cooperation with investors for implementation of investment projects in territory of the republic was concluded including

  • the Memorandum of cooperation for developing production for extraction of minerals and infrastructures of railway transportation signed by the Head of the Republic of Karelia, chief of Oktyabrskaya Railroad - branch of Russian Railways, Inc., and director of Lobskoye 5, Ltd., (Medvezhiegorsk region)
  • the Agreement between the Government of Kareliya, Kostomuksha urban district municipal entity and Karelsky Okatysh, Inc., on cooperation
  • the Agreement on strategic partnership and long-term cooperation between the Government of Karelia, Administration of Petrozavodsk city district and Saint-Gobain Construction Products Rus, Ltd., (France)

In order to stimulate investment activity, work on perfection of the regulatory framework in the field of state support of investment activity and rendering state support to the investors introducing investment projects in territory of the Republic of Karelia continued.

The Government of the Republic of Karelia continues work on provision of grants for partial compensation of expenses on repayment of interest on credits involved for implementation of investment projects. In total in 2009 7 enterprises have received grants of 3,2 million roubles. The volume of involved investment credits has made 187 million roubles.

Nitro-Sibir Nord Grupp Joint-Stock Company is granted the state guarantee for implementation of the investment project Consolidation of assets of enterprises of Nitro-Sibir Nord Grupp Joint-Stock Company located on territory of Karelia and Finland for introduction of integrated control system.

One of the measures of the state stimulation of investment activity is granting tax privileges within the framework of the mode of investment preference at implementation of investment projects in territory of the Republic of Karelia. In 2009 following Investment Agreements have been concluded:

  • Kala Ranta, Ltd., the project of Expansion of the existing trout farm
  • Karelprirodresurs, Ltd., the project of Construction of an opencast mine on the Bolshaya Uya natural stone deposit with installation of a crushing and screening plant producing 1500 thousand tons of road-metal a year
  • Prionezhsky Mining Company, Ltd., the project of Construction of an opencast mine with a crushing and screening plant on the Chevzhavara deposit of gabbro-diabases

By the end of the accounting year the Investment Agreement Karkhakos, Ltd., (3rd phase) was canceled due to expiration of the limiting five-year term of granting tax exemptions.

As of January 1, 2010 in the Republic of Karelia there are 15 Investment Agreements with investors in force granting the mode of investment preference.

The important part in involvement of financial resources in the economy of the Republic is assigned to the bank sector of the republic.

In 2009 constructive cooperation between the credit organizations with the Government of Karelia regarding performance of the Basic directions of participation of the bank community of the republic in implementation of anti-recessionary measures has proceeded.

With a view of involvement of financial resources for implementation of republican investment projects there have been prepared applications to the bank organizations and the State Corporation Russian Corporation of Nanotechnologies, the Cooperation agreement with the State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank) was signed.

Activization of the investment process in the republic is also promoted by involvement of resources of the insurance organizations through creation of developed insurance system in the republic. Government of the republic conducted active work with representations of insurance companies conducting business in territory of the republic. The Commission on development of the market of financial services in the Republic of Karelia has continued its work.

In 2009 four sessions of the interdepartmental republican commission on work with federal programs have been held. A number of issues on financing of actions of federal programs, including reception of limits and conclusion of agreements for 2009 on co-financing of actions of Federal Target Programs and Federal Address Investment Programs and target subsidizing from the funds of the federal budget have been considered; results of current development of federal means, results and problems of the budgetary bid campaign for 2010-2012 regarding granting of federal means for capital objects of the republic within the scope of federal target programs, as well as means of Investment fund of the Russian Federation.

Technical support
Created: April 23, 2010. Last updated: April 27, 2010.
© State Committee of the RK for ICT Development, 1998-2015