In the current geopolitical situation, the economy of the Russian Federation is focused on searching for new sources of growth and development. The challenges brought by different periods in time are encouraging us to find different ways to stimulate our economy. In the current unfavorable state of external affairs, increasing the investment attractiveness of the region becomes highly important.
This issue is as important and relevant as ever for the region as it has set an ambitious goal – to create most favorable conditions for the economic breakthrough of the region and significantly improve the life quality of the people in the region.
Currently the focus is set purely on development of natural mineral resources- their mining and processing.
Another primary goal set by the regional government is-systematic development of the basic sectors in the regional economy such as mining industry, agriculture, small and medium enterprises. We continue to establish and develop the mining and metallurgical cluster which will integrate the investment projects of the south –east and the north of the Transbaikal region. The gasification of the Transbaikal region has also been set as a plan. We also plan to establish transport and logistics centers, this project relies on the region’s bordering with the Asia Pacific region. These three areas would be the base for the general development combined with the institutional framework in the form of legislation.
Today the investment policy of the Transbaikal regional government is aimed at improving the business environment in the region. One of the main conditions for development is creating favorable tax conditions, providing the government support in the form of partial investment projects cost reimbursement. The region provides a tax holiday for the income tax as well as for the excavation of the mineral resources; the property tax rate has been reduced in half.
The transbaikal region has a great potential , we are ready to implement innovative methods and technologies, realize the most daring and ambitious projects, we are open for the constructive dialogue and cooperation opportunities.