Representatives from 68 regions discussed the investment climate in the Nizhny Novgorod Region.

      October 17, 2025, 16:34 Economy

      More than 100 representatives of government bodies, development agencies and business associations from 68 Russian regions are taking part in the 5th Congress of Regional Investment Agencies and Development Corporations in Nizhny Novgorod on October 16–17. The event is being held in the Nizhny Novgorod Region for the first time. Its organizers are the National Association of Investment and Development Agencies (NAAIR), the Agency for Strategic Initiatives (ASI) and the Nizhny Novgorod Region Development Corporation.

      Improving the quality of work with investors and supporting them has been included among the objectives of the national project “Effective and Competitive Economy,” initiated by Russian President Vladimir Putin, starting in 2025.

      “It is a great responsibility for us to host on Nizhny Novgorod soil the heads of development agencies from different regions of Russia. In the competition for investors, each federal subject is constantly searching for unique offers for business and building a system of long-term work with investors. At the same time, the exchange of experience and successful universal tools is extremely necessary, because any new project contributes to the development of the entire Russian economy,” said Gleb Nikitin, Governor of the Nizhny Novgorod Region.

      First Deputy General Director and Head of the Agency for Strategic Initiatives’ office Igor Karachin emphasized that the Nizhny Novgorod Region team has done extensive work to create favorable conditions for doing business in the region.

      “I would also like to note the growing role of the country’s development agencies in coordinating activities to improve the business environment. Currently, the Agency for Strategic Initiatives is working on all aspects of the national investment ranking, from methodology to models of regional activity to improve the investment climate and specific practices, predominantly non-financial, that enable regions to improve the business environment,” said Igor Karachin.

      As part of the business session “National Model of Targeted Business Conditions,” Deputy Governor of the Nizhny Novgorod Region Andrey Sanosyan presented the region’s experience in building a system of long-term work with investors. In particular, he described the introduction in the region of elements of the regional investment standard: an investment declaration, a set of investment rules, a development agency (Development Corporation), an investment committee (council for development strategy and investments) and an investment map; development of territories with preferential tax regimes; digitalization of the mechanism for supporting investment projects; implementation in the region of the lean project “End-to-End Investment Flow,” aimed at simplifying investor interaction with utility providers; and a digital solution for construction management — the State Information System for Supporting Urban Development Activities of the Nizhny Novgorod Region.

      “Everyone present here understands the importance of working with investors at the regional level. Business, regardless of scale, is the foundation of our economy. The institution of development agencies has proved itself overall and demonstrated its usefulness for improving the investment climate in the regions,” said Andrey Sanosyan.

      Participants in the congress also discussed operational models for improving the investment climate in the regions, aspects of development agencies’ functioning and their vision for the future.

      The Nizhny Novgorod Region Development Corporation, which currently supports more than 330 projects with a planned investment volume of almost 380 billion rubles, shared its experience in supporting investment projects in the region.

      “Each investment project, regardless of scale, requires an individual approach, so development agency specialists continuously improve their skills and develop new solutions aimed at creating comfortable conditions for business. Events like the Congress of Regional Investment Agencies and Development Corporations allow us to learn about colleagues’ best practices from across the country and bring something new into our work,” said Igor Ishchenko, CEO of the Nizhny Novgorod Region Development Corporation.

      In addition, the congress included presentations of the best management solutions for development agencies and leading investment practices from the regions.

      “Despite the difficult situation in the country’s economy and budget cuts, regional development agencies demonstrate resilience to external and internal risks, remaining a reliable partner for business when implementing investment projects in the regions. As is customary, every two years we hold conferences of regional development agencies to compare notes, exchange experiences, discuss prospects and growth points. In addition to discussing growth points, we discuss challenges and key problems in the work of development agencies and develop mechanisms to solve them,” said Rafael Khusainshin, Executive Director and Deputy Chairman of the Board of NAAIR.

      On the second day of the congress, participants are scheduled to study the practices of a regional development agency using the example of JSC “Nizhny Novgorod Region Development Corporation,” including familiarization with the organizational structure, the model for attracting and supporting investors and digital services.

      Recall that the Nizhny Novgorod Region confirmed its status in 2025 as one of the leading regions in ASI’s National Investment Climate Ranking, once again taking second place.

      The national project “Effective and Competitive Economy” will become the main tool for forming a new model of growth. It includes federal projects aimed at developing small and medium-sized enterprises, increasing labor productivity, boosting investment activity, low-carbon development and developing the state system of statistics and forecasting.

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