Regional investment standard

By order of the Government of the Russian Federation, the Republic of Crimea, as one of the pilot regions,

implemented 5 instruments of the updated Regional Investment Standard (RIS) during 2022

 

The Investment Declaration of the Republic of Crimea was brought into compliance with the Methodological Recommendations for preparation of the investment declaration of the constituent entity of the Russian Federation, approved by the Order of the Ministry of Economic Development of the Russian Federation No. 591 "On the System of Support for New Investment Projects in the Constituent Entities of the Russian Federation ("Regional Investment Standard")" dated September 30, 2021, approved by the Decree of the Head of the Republic of Crimea No. 34-U "On Amendments to the Decree of the Head of the Republic of Crimea No. 272-U dated September 11, 2014" dated February 25, 2022 and states the following:

  • objectives of investment development of the Republic of Crimea;
  • key characteristics of the Republic of Crimea;
  • investment obligations of the Republic of Crimea;
  • composition of the Investment Team of the Republic of Crimea.

 

Read the Investment Declaration

The Investment Committee of the Republic of Crimea is a permanent consultative and advisory body established by the Head of the Republic of Crimea to create favorable conditions for investment activities, protect the rights and legitimate interests of investment entities, as well as resolve investor disagreements and disputes with the authorities of the Republic of Crimea, local self-government bodies of the Republic of Crimea, organizations authorized for the implementation of investment projects in the territory of the Republic of Crimea that are not regulated by a dedicated organization for raising investment and working with investors in the Republic of Crimea, through the pre-trial process.

In its activities, the Committee shall be guided by the legislation of the Russian Federation, the Republic of Crimea and its Regulations.

Main powers of the Committee:

1) consideration of matters related to:

  • violation of the provisions of the Investment Declaration of the Republic of Crimea approved by the Decree of the Head of the Republic of Crimea No. 272-U "On the Investment Declaration of the Republic of Crimea" dated September 11, 2014;
  • fulfillment of the obligations of the Republic of Crimea and the investor under the Agreements on Implementation of Investment Projects in the Territory of the Republic of Crimea;

2) organization and discussion of issues related to the improvement of the investment climate and implementation of investment projects in the Republic of Crimea, as well as development of the corresponding methodological documents;

3) collection and generalization of permitting practices with the involvement of business associations and the Commissioner for Entrepreneurs’ Rights of the Republic of Crimea;

4) making proposals to reduce barriers that hinder the development of the economy of the Republic of Crimea;

5) assessment of the consequences of adoption of draft normative legal acts regulating investment activities in the Republic of Crimea.

Pursuant to the order of the Head of the Republic of Crimea, a Code of Investment of the Republic of Crimea was developed, approved and posted on the Investment Portal of the Republic of Crimea.

The Code of Investment includes a list of algorithms for an investor to follow when carrying out the investment activities.

Departmental rulings of the corresponding executive bodies of the Republic of Crimea approved algorithms for investors in the areas of connection to electricity networks, gas distribution networks, water supply and sewage, as well as heat supply. Moreover, separate algorithms prescribe the investor’s ways to obtain land plots for lease with and without bidding, to obtain construction permits and commissioning of facilities. Special algorithms are prescribed for the registration of ownership of commissioned facilities and provision of access to road infrastructure.

Moreover, departmental rulings of the corresponding executive bodies and resource supplying organizations (RSOs) of the Republic of Crimea appointed the persons responsible for compliance with the terms and procedures of these algorithms, as well as a separate order of the Head of the Republic of Crimea established the existence of disciplinary responsibility for their violation.

Also, permanent interaction between Crimea Development Corporation JSC, the RSOs and responsible executive bodies was established in part of compliance with deadlines and procedures of algorithms, as well as collecting feedback from investors on this issue.

This interaction is also carried out within the activities on achieving the indicators of the National Investment Climate Rating.

In accordance with the RIS methodology, the investment map posted on the Investment Portal of the Republic of Crimea was brought into full compliance with the requirements, and all the relevant layers were applied to the map:

  • Engineering infrastructure (water supply, wastewater disposal, electricity, heat supply);
  • Cellular communication;
  • Motor roads;
  • Railroad tracks (significant freight stations and depots);
  • Crimean seaports;
  • Simferopol International Airport;
  • Investment sites to implement the investment projects of sites, including the sites where preferential treatment applies to the investor – extension of preferential treatment to the investment site, tax and customs benefits, support measures, investment site areas, infrastructure availability for the site by infrastructure type (maximum allowable capacity and allowable capacity), the cost of lease with an option to purchase of vacant land and lease of vacant premises.
  • Support measures – a register of possible support measures, a code of investment, taxes.
  • Tariffs – the amount of tariffs for consumption – water supply, sanitation, gas supply, electricity, heat supply.
  • Minerals – information about resources, contact information of authorized state authorities and organizations for communication with potential investors.

 

The order of the Head of the Republic of Crimea determines the procedure for updating the information on the map on a quarterly basis.

Moreover, the participation of municipal formations in the Republic of Crimea in the process of introduction of RIS elements was organized.

In particular, the municipal formations are actively involved in filling out and updating the investment map of the region, they interact with the development agency, support the implementation of the code of investment and participate in the meetings of the Investment Committee.

The Investment Development Agency Crimea Development Corporation JSC is a regional development institute established on November 25, 2015 at the initiative of the Council of Ministers of the Republic of Crimea in order to improve the business climate of the Republic of Crimea, conduct investment activities and purposefully raise investment in priority sectors of the economy of the Republic of Crimea, create a tool for the implementation of a regional investment strategy, develop and implement investment projects for the territorial development of the Republic of Crimea, creating and developing industrial parks, as well as to develop public-private partnerships in the Republic of Crimea. The headquarters of the company is located in Simferopol.

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