“The regional investment standard is meant to assign unified rules at the regional level,” the regional administration’s press service announced. “When introduced, it will make it possible to ensure robust competition between regions with minimum requirements to Russian and international investors, to fix the list of required documents and the deadlines for different stages of investment projects, and to ensure subsidies covering the lost revenues at the cost of the investor’s tax credit.
According to the regional Department for Investments and Development of Small and Midsize Businesses, the investment projects launch and accompaniment plan was approved in the Kuban region at the preparation phase of the new standard. The plan includes actualization of the investment memorandum, development of a set of investment rules, approval of the investment card and establishment of the regional agency for investment development. Due to the approval of the plan, the Russian Government allocated over 57 million roubles to Krasnodar Krai as compensations for granting investor’s tax credits.
In 2021, the total amount of the 68 major investment projects implemented in Krasnodar Krai was 65.1 billion roubles.
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