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Social and Economic Development of the Republic of Karelia in 2010

  Modernization of the Economy

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Investment Strategy and Construction Activity, including Housing Construction

Overcoming the crisis consequences in the investment sphere and development of the corresponding regional policy for 2011-2015 became the major spheres of activity of the Government in the field of investments in 2010.

With a view of implementation of the completion phase of the completion phase of the Main Trends of the Investment Policy of the Government of the Republic of Karelia in 2007-2010 there has been developed and performed a complex of activities for 2010 providing preservation of the state support to investors due to means of the regional budget, measures for attraction of federal budgetary investments into economy; development of innovative activity, engineering and transport infrastructure. Special attention was paid to issues of formation of the system of private-public partnership in territory of the republic. Projects of normative documents stating principles of cooperation and regulating conditions, order and forms of participation in partnership of the state and business, including the bill of the Republic of Karelia Concerning participation of the Republic of Karelia in private-public partnership projects have been prepared.

The draft agreement on interaction and cooperation in the sphere of regional investment policy between the Ministry of Regional Development of the Russian Federation and the Government of the Republic of Karelia has been prepared.

Pursuance of the policy of territorial marketing continued; within its scope the region participated in development of the investment part of the project of Strategy of Social and Economic Development of the Northwest Federal District for the period through 2020 and perspective investment projects of the republic were included in the strategic plan of promotion of the NWFD. During this preparation materials within 116 investment projects was examined and presented.

The republic participated in the all-Russian project of Formation of the National System of Venture Investments. The electronic package of presentation materials about the republic is published on the Internet-portal of the Northwest center for venture investments, the project coordinator.

Within the framework of activity on mobilization of foreign investments into economy of the republic a number of analytical materials about investment climate, perspective directions of investing and investment projects for foreign investors from South Korea, Germany, as well as Italian and Danish business circles has been prepared.

Activity on promotion of the investment portal The Republic of Karelia for Investors with the focus on increase of the informativity and expansion of use of opportunities of the site for presentation of investment potential of the republic, including for publishing the electronic version of the Investment Karelia annual information and analytical magazine continued. Thematic sections of the site and electronic databases have been updated, the new section of Private-Public Partnership has been created. As a result of promotion of this information resource the activity of users has grown considerably: from 18,000 registered users in 2009 to 24,000 in 2010.

In the accounting period activity on presentation of investment potential of the republic continued. The brief investment passport of the Republic of Karelia has been created, passports for key investment projects of regionare have been issued, electronic presentation of investment potential of Karelia in Russian and English languages was prepared. The regional system of support of investment projects has received further development.

To increase responsibility of the core ministries and departments for results of investment development of supervised fields of activity and acceleration of promotion of investment projects the List of Priority Investment Projects already launched and planned to be implemented in territory of the region, as well as officials of enforcement authorities of the Republic of Karelia responsible for their support was prepared and approved by the Head of the Republic of Karelia.

With a view of complex study of projects which implementation demands involving of significant natural and land resources and provision of the engineering infrastructure there has been established the interdepartmental commission for development and placement of productive forces in territory of the Republic of Karelia. There operates the system of monitoring researches to reveal tendencies describing condition of investment climate in the republic. This system includes carrying out of analytical monitoring of investment activity development within the territory of the Republic of Karelia; monitoring of investment projects implemented in the region; monitoring of the program of creation of workplaces as a result of implementation of investment projects.

As of January 1, 2011 the regional list totals 135 investment projects launched or planned for implementation within the territory of Karelia within the period from 2008 to 2011 and the following years.

Within the scope of the cooperation agreement signed in 2010 between the Government of the Republic of Karelia and the state corporation of the Bank of Development and Foreign Economic Affairs (Vnesheconombank) there has been generated and submitted the list of 8 investment projects of the republic for consideration of co-financing, two of which have received positive conclusions.

Besides, with a view of mibilization of financial resources for implementation of republican investment projects there have been prepared applications to the bank organizations and Rosnano state corporation, the list of 19 potential investors was formed, and meetings with them were organized for initiators of investment projects.

In total in 2010 it has been considered 11 offers of creation of new enterprises in territory of the republic, sites for their placing were offered, protocols of intentions were concluded with Korund Ltd. for implementation of the investment project of organization of production of heat insulating slabs, sandwich-panels with basalt filling in a Kondopoga and at Kalevala Woodworking Enterprise Ltd. Open Company at implementation of the investment project of construction of the factory producing oriented strand boards.

he interdepartmental working group for assistance in mobilization of investments into economy of the republic under direction of the First Deputy Head of the Republic of Karelia continued its work.

In the accounting period there have been held 9 sessions which considered implementation of investment projects of 11 organizations (MKK-Holding Ltd., Kalevala Woodworking Enterprise Ltd., Okhta Group Holding, Nord Hydro Joint-Stock Company, Progress Ltd., Key Forest Joint-Stock Company, etc.), issues of branch and territorial development of the region, liquidation of administrative barriers in construction, etc.

In total in 2010 it has been completed 20 large investment projects in the energy sector, mining and timber industry of the republic, housing and communal services and communication. As a result of implementation of investment projects in 2010 it have been created 1311 workplaces.

In 2010 the state support of investment activity was carried out in the following spheres:

  • granting of partial reimbursment to compensate expenses on repayment of interest on credits received for implementation of investment projects;
  • granting tax exemptions to the investors implementing investment projects.

From the budget of the Republic of Karelia for 2010 it has been allocated 6 million roubles to grant partial reimbursment to compensate expenses on repayment of interest on credits received for implementation of investment projects.

The following investment agreements were concluded in 2010 to grant tax exemptions:

  • with Segezhgranit Inc., the project of Construction of a quarry with crushing and screening equipment on Kägozero granite deposit in Segezha region of the Republic of Karelia;
  • with Muezersky granit Ltd., the project of Organization roadmetal production at Egorkina Gorka gneissogranite deposit in the Republic of Karelia;
  • with Onego Palace Ltd, the project of Construction of the Onego Palace hotel complex in Petrozavodsk.

As of January 1, 2011 in the Republic of Karelia there were 14 valid investment agreements with investors about granting them the favorable investment treatment.

Within the scope of coordination of activities of executive bodies of the republic, territorial federal departments and institutions within the territory of the republic to involve federal budgetary investments into economy of the region in the accounting year it has been held three sessions of the interdepartmental republican commission on work with federal programs and a special session of the Government of the Republic of Karelia.

Besides solving current problems, prospects of investment development of the republic for the medium term have been depicted in the accounting year. Within the framework of development of the Concept of Social and Economic Development of the Republic of Karelia and the Main Trends of the Investment Policy of the Government of the Republic of Karelia for 2011-2015 there have been stated medium term priorities of development of the region in the sphere of investments called to provide improvement of quality of economic growth through technological modernization and diversification of economy on the basis of steady increase in the investment demand and volumes of investments into economy.

One of the key factors influencing quality of life of the population is solution of the housing problem, which is why provision of affordability of the residential space is stated among priority spheres of development of the republic.

To achieve the parameter of 140,000 sq.meters of commissioned objects of housing construction in 2010 according to the Affordable and Comfortable Housing to Russian Citizens priority national project Agreements on cooperation with administrations of municipal regions (urban districts) were concluded. In total in the republic it was commissioned 142,400 sq.meters of residential space, however it is 13.6% less than in 2009.

In the accounting to year in the Petrozavodsk city district, nine municipal regions (Byelomorsk, Kalevala, Louhi, Medvezhiegorsk, Prionezhsky, Pryazha, Pudozh, Segezha, Sortavala) the plan of residential space commission was fulfilled.

With a view of development of construction and stimulation of housing construction the Government of the Republic of Karelia works on rendering assistance in implementation of large investment projects of mass residential construction in territory of Petrozavodsk.

In 2010 in connection with change of the federal legislation regional amendments were made to specifications of town planning Town-planning. Outlining and building of town and rural settlements, urban districts of the Republic of Karelia.

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Created: May 20, 2010. Last updated: May 25, 2010.
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