Map of the Russian Arctic shows investment opportunities
In 2022, the Russian Far East and Arctic Development Corporation (Development Corporation) has launched an interactive map, where one can select a land site for the investment project in the Russian Far East and the Arctic online.
According to Kirill Berman, the Development Corporation deputy general director, this is the first detailed macro-regional interactive map. It is an efficient digital assistant for potential investors and residents of preferential tax regimes in the Russian Far East and the Arctic.
“We have updated the unified portal of the Development Corporation. The key feature is a new interactive investment map of the Russian Far East and the Arctic. The investment map has an integrated search system that showcases existing infrastructure opportunities in the region. It contains around 600 land sites and 7000 infrastructure objects. The new digital service of the Development Corporation includes land sites in all 18 regions of the Far Eastern Federal District and the Arctic,” said Kirill Berman.
The interactive map is a marketplace for land sites. One can see if power grids, wastewater disposal systems, heating supplies, and other infrastructures are available. The interactive map allows comparing the sites and filing land site applications. In addition, the map includes specially protected natural areas and ongoing investment projects to provide a background of the selected land sites.
The new service is designed both for Russian as well as international investors. The investment map is available in five languages – Russian, English, Chinese, Korean and Japanese.
“Our main task was to simplify the process of land site selection for Russian and international investors as much as possible. Potential investors can set various parameters of the planned project and get real-time information on which regions within the Russian Far East and the Arctic that have suitable land sites. The investors can see the neighbouring investment projects, whether there are natural reserves, and, most importantly, what infrastructure is available. Today around three thousand investment projects are being implemented under agreements with the Development Corporation, and the residents plan to invest more than 6.1 trillion RUB (around 20,6 billion USD) in the economy of the Russian Far East and the Arctic. With the introduction of new services for investors and the expansion of state support measures, we expect the Far Eastern Federal District to become more appealing to Russian and international companies, attract more investments, create more new businesses and jobs, and improve the quality of life for people,” added Mr. Berman.
The Russian Far East and Arctic Development Corporation has been an important partner of the Arctic Economic Council (AEC) in supporting the Russian chairmanship of the AEC.
“Access to infrastructure is one of the critical factors for the investment decision-making. This interactive map is a good example of a one-stop-shop for infrastructure facilities in the Arctic.” said Executive director of the AEC, Mads Qvist Frederiksen.
Another platform that tracks current and planned infrastructure projects across eight Arctic states is the Arctic Infrastructure Inventory run by Wilson Centre. It is a public source for all stakeholders, including policymakers, industry and investors, researchers, community leaders, etc.
This article was originally published on the AEC.
