Address of the Head of the Republic of Crimea on the Crimean Investment Climate

Dear colleagues, investors and entrepreneurs!

Creating a favourable investment climate and attracting investment is the result of Government work of the Republic of Crimea!

If we want to achieve positive results in both resolving our economic challenges and social policy issues, we have only one right course of action and it is aimed at attracting investment.

Investment forms the future.

In the face of modern challenges we must be guided by the following fundamental principles:




Based on these principles, we were able to identify the main goals and objectives for the development of investment activities in the Republic of Crimea and established the necessary mechanisms for their implementation.

Last year, we have taken a number of important steps in this direction:


The law of the Republic of Crimea «On the Investment policy and State support for investment activities in the Republic of Crimea» has been adopted.

The legal status of the specialized organization for working with investors JSC «Crimea Development Corporation» was determined. This organization has received a new impulse for its development and a wider range of opportunities for interaction with Executive bodies of the State authority, municipalities and investors. The Corporation expanded its powers and received new tasks in the field of supporting investment projects and increasing the investment attractiveness of the region.

Our Republic has risen up by 16 points in the National rating of the investment climate in the regions of the Russian Federation and is among top 10 regions in terms of growth indicators for improving the investment climate and creating comfortable conditions for business.

The implementation of the Standard for the activities of Executive authorities of the Russian Federation has been completed to ensure a favourable investment climate.

An Investment portal of the Republic of Crimea which allows remote access to the necessary information about the region is currently operating, it can be used to search for investment sites and to review investment proposals.

The work of the Council on improving the investment climate in the territory of the Republic of Crimea has been organized. In 2019, 22 meetings were held and 32 new investment projects were approved.

182 investment agreements have been signed with a declared investment volume of about 150 billion rubles. More than 58 billion rubles have already been invested. Within the scope of reported projects it is planned to create more than 13 thousand jobs, more than three thousand jobs have already been created.

Free Economic Zone is successfully developing. Currently, 1300 participants of FEZ have been registered. The declared volume of investment on the projects amounted 127 billion rubles. It is planned to create about 43 thousand jobs. 93% of projects are implemented by small and medium-sized enterprises.

Considerable attention is paid to the formation of the image making and the promotion of economic, investment and export potential of the Crimea.

In 2019 the V Yalta International Economic Forum was organized with the participation of All Russia Public Organization "Business Russia" and "Yalta International Economic Forum" Fund. The forum broke its own record set a year ago, and again, it hosted the largest group of the guests from outside the country in the recent history of the Crimea.

The Republic of Crimea regularly participates in lead international events, including the St. Petersburg International Economic Forum and the Russian Investment Forum in Sochi.

Organizing business missions of foreign delegations to the Crimea, and holding bilateral meetings with business representatives, during which they are provided with current information about the state of economy, as well as opportunities for the development of trade and economic cooperation is a currently ongoing practice.

The subprogram "Support and stimulation of exports of the Republic of Crimea" of the State program "Economic development and innovative economy" has been developed."

The social problems of Crimeans are gradually being addressed and they are funded through budget investments. In 2019, 22 water supply and sanitation facilities were reconstructed and repaired with funding from the national budget. Major renovations had been carried out in 92 educational organizations (buildings, roofs, food units, window and door blocks, landscaping, heating and ventilation, boiler houses, premises and facades), 13 gas distribution facilities, 29 health care facilities and 37 improvement institutions, 3 psycho-neurological boarding schools and 16 hostels, 4 sports facilities, 3 boiler houses for rural houses of culture were implemented.

In 2019 implementation of such large-scale infrastructure projects as "Tavrida" highway, design and construction of water supply tract in the North Crimean Canal to the town of Feodosia and Kerch (2nd stage), construction of water intakes; reconstruction of tunnel water pipeline of the Southern coast of the Crimea continued using Federal budget funds.


Regional projects are being implemented under the national project of the "Small and medium-sized entrepreneurship and support for individual entrepreneurial initiative", as well as of the State program of the Republic of Crimea "Economic development and innovative economy". More than 1.8 billion rubles have been allocated for these purposes in 2019.


In the framework of the regional project "Expanding access of SMEs to financial resources, including concessional financing", Microfinance Fund and Guarantee Fund were capitalized in the amount of 204 and 239 million rubles, respectively. With these funds, 273 microloans were granted for a total of about 784 million rubles and 129 guarantees worth about 947 million rubles. This allowed to attract more than 1.76 billion rubles of credit funds.

Regional leasing company with an authorized capital stock of 1.2 billion rubles was established to provide preferential leasing support to SMEs at 6 and 8% per annum.

The implementation of the regional project "Popularization of entrepreneurship" provided an opportunity to teach basic business development skills, financial literacy and other entrepreneurial skills to 1,354 people, as well as create 207 new SMEs.

Following the implementation of the regional project "Acceleration of small and medium-sized businesses," a Center for social innovation was created, as well as three clusters: tourist, biomedical and local electric transport.

In 2019, the total employment in the sphere of small and medium-sized businesses, including individual entrepreneurs, amounted to 242.6 thousand people. This is 2% more than in 2018.

In the rating for the increase in the number of people involved in SMEs amongst the subjects of the Russian Federation, the Republic holds the 2nd place, overperforming the targeted mark by 4.6 thousand people.

This year, 195 million rubles will be allocated for the implementation of the national project "Small and medium-sized businesses and support for individual business initiatives." Preparatory work will be carried out to create Technopark of the Republic of Crimea in 2022. For these purposes a subsidy of 300 million rubles is provided from the Federal budget. Next year, it is planned to develop and implement a Standard for the activities of local self-government bodies of municipalities to ensure a favorable investment climate. The Crimea Development Corporation will increase its activity in terms of improving mechanisms for the interaction with municipalities, forming investment sites, developing investment passports, projects, proposals, simplifying procedures and reducing the time for obtaining permits for connecting to the engineering networks, registering property and land plots for the implementation of the investment projects.

In conclusion, I would note that the increase of investments is not an end in itself but the means of deciding a major challenge – the development and strengthening of the region's economy with a large human and investment potential. In the current economic climate, only collective efforts of the public, business structures and the government can realize this potential.

I am confident, working as one unified and effective team, we will be able to achieve a lot!
Head of the Republic of Crimea                                                                                         

Sergey Aksyonov