Gleb Nikitin and Alexander Shokhin discussed measures to improve the investment climate and business activity.

      Governor of the Nizhny Novgorod Region Gleb Nikitin and the president of the Russian Union of Industrialists and Entrepreneurs (RSPP), co-chair of the supervisory board of the National Association of Investment and Development Agencies (NAAIR) Alexander Shokhin, at a meeting in the office of the Nizhny Novgorod Region Development Corporation discussed measures to improve the investment climate and business activity, and also summed up the results of the 5th Congress of Regional Investment Agencies and Development Corporations.

      The Congress is being held on October 16–17 in Nizhny Novgorod. It is attended by more than 100 representatives of government bodies, development agencies and business associations from 68 regions of Russia.

      "At the Congress we share our considerable experience and adopt practices from other regions. The Congress is held once every two years, which adds value to each event. Development agencies are very important institutions for all regions; they play a key role in improving the investment climate. Currently, our Development Corporation is overseeing 338 investment projects with a total investment volume of 380 billion rubles, which amounts to 32,000 jobs. The effect of organizing such an investor support institution is evident in our region, and I am confident that together we will create conditions that will lead to a sustainable economy," said Gleb Nikitin.

      As Alexander Shokhin said, the congresses are held to develop a consolidated position on the activities and development of specialized organizations for attracting investments and working with investors in the constituent entities of the Russian Federation.

      "It is gratifying to note that businesses are increasingly turning to regional development agencies when implementing their investment initiatives, treating them as reliable partners. This indicates that the idea of creating development agencies in every region has proved its worth," he noted.

      In his speech Alexander Shokhin cited the successful model of the Nizhny Novgorod Region Development Corporation as an example that could be replicated in other regions.

      Also participating in the meeting were the CEO of the Nizhny Novgorod Region Development Corporation Igor Ishchenko, executive director and deputy chairman of the board of NAAIR Rafael Khusainshin, and heads of investment agencies and development corporations from regions across Russia. They voiced their proposals to increase the effectiveness of agencies and development corporations in the regions.

      In particular, Igor Ishchenko proposed considering at the federal level the possibility of subsidizing mortgages for employees of zones with preferential tax regimes.

      "To date, 45 companies have been approved by the expert council of the SEZ 'Kulibin'; they will direct about 144 billion rubles to project implementation and create more than 6,000 jobs. Human resources are everything, so we are currently addressing this issue especially actively. In my view, if we could support the initiative to subsidize mortgages, for us as the management company of the SEZ this would be a critically important solution to the problem of staff shortages and would become an additional incentive to operate in our special economic zone," said Igor Ishchenko.

      In addition, proposals were voiced to reduce administrative burdens on business, minimize inspections by supervisory authorities, create a federal institute of an investment ombudsman in Russia, and amend a number of federal laws and regulatory legal acts.

      Recall that from 2025 improving the quality of work with investors and supporting them has been included in the objectives of the national project "Effective and Competitive Economy," initiated by Russian President Vladimir Putin.

      Background:

      The Congress of Regional Investment Agencies and Development Corporations is held once every two years. The first took place in 2017 in the Tyumen Region. This is the first time it is being held in the Nizhny Novgorod Region.

      Participants of the Congress traditionally include representatives of federal and regional executive authorities, federal and regional development institutions, domestic and foreign investment companies, sectoral associations and business unions.

      Within the business program of the Congress, models for improving the investment climate in the constituent entities of the Russian Federation are examined; key problems and barriers in the work and possible vectors for the growth of regional development agencies are discussed; successful regional practices and managerial solutions for development agencies are reviewed.

      Resolutions and decisions following the Congresses are sent to the Government of Russia, federal development institutions and business associations.

      Press Service of the Governor and Government of the Nizhny Novgorod Region

      Photo: Maksim Gerasimov, photo.pravda-nn.ru

      More news about the event:

      Gleb Nikitin and Alexander Shokhin discussed measures to improve the investment climate and business activity

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      News from neighboring regions on the topic:

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