Investment Policy

Carrying out of structural transformations of economy of the Republic of Sakha (Yakutia) demands significant investments for realization of following priority directions of the economy of the republic: the development of oil-and-gas, mining, transport, timber industry complexes and tourism infrastructures.

The basic purpose of the republican investment policy is maintenance of economic growth on the basis of realization of strategic investment projects, and also on the basis of modernization and development of an industrial infrastructure and increase of competitiveness of branches of economy of republic, due to decrease in cumulative current costs of economy of the republic.

Achievement of an object in view is possible at carrying out of the consistent policy directed on stimulation and support of investment activity in the territory of the republic, working off of mechanisms of mobilization of budgetary and inappropriate financial resources for realization of target investment programs, attraction of external investments and increase of efficiency of their use on the basis of realization of following actions:

-perfection of normative and legal base of investment activity, improvement of an investment climate;

-preparing the information of the investment potential and investment processes in the republic;

-state stimulation of investment processes in the republic;

-increase of efficiency of use of the state investment resources.

In sphere of legal maintenance and formation of a favorable legal climate for investment activity it is supposed to use to the full the right of the Republic of Sakha (Yakutia) to carry out own legislative and legal regulation in subjects of joint conducting if those are not regulated by the federal legislation.

The basic actions for the perfection of normative and legal base of investment activity and on creation of a favorable investment climate are:

- perfection of a tax policy, with the purpose of reduction of tax burden on the enterprises of the republic and decrease of administrative barriers;

- decrease of administrative intervention of the state in productions of the enterprises;

- privatization of the enterprises which are in a state ownership;

- development and perfection of the republican legal and legislative acts adjusting investment activity;

- perfection of insurance policy with the purpose of reduction of property, investment risks of the state and investors.

The main directions for creation of investment image of the Republic of Sakha (Yakutia) are:

1. Distribution of the information about competitive advantages of the republic (presence of valuable natural resources, raw, industrial, scientific and personnel potential, etc.), the investment legislation of republic, investment projects and offers, objects of an investment infrastructure by means of mass media and the international information exchange, presentations of the Republic of Sakha (Yakutia) and separate investment projects, distribution its information-promotional materials.

2. Attraction to work in the territory of the republic of the organizations and programs with the Russian and foreign participation, the international banks, the Russian and foreign investors.

3. Development and maintenance of attitudes with embassies and the trade missions of the foreign states, the international organizations, mass media.

4. Creation of system of a supply with information-advisory of the Russian and foreign investors, marketing of investment programs and projects through a network of the trade missions of the republic in various regions of the Russian Federations and the foreign states.

5. Participation in investment seminars.

6. Work with the organizations of the Far East region with the purpose of promotion regional and investment projects, attraction to their realization additional sources of financial assets.

7. Formation of positive credit history of the republic through duly repayment of external loans.

Expansion of foreign economic relations is one of the mainstreams of development of the republic and it is aimed at gradual, harmonious occurrence of republic in world economic space.

In the sphere of regulation of investment activity the Government of the Republic of Sakha (Yakutia) takes a rate on decrease in a share of budgetary appropriations and increase in a share of own means of the enterprises, private investments and extra means. Thus special measures for attraction foreign investment-creation of a favorable investment climate (an establishment of special tax modes within the limits of the legislation of the Russian Federation and the certain guarantees) are assumed.

The major factors providing investment appeal of the Republic of Sakha (Yakutia):

-presence of significant stocks raw and power resources;

-increasing demand in the world market on various kinds of mineral raw material, an exhaustion of accessible world reserves of minerals;

-steady economic growth, stable positive dynamics of the basic macroeconomic parameters of the republic;

-political stability;

-readiness of state bodies and local authorities to carry on concrete negotiations with investors for the form of their participation and guarantees of the return of the invested capital;

-presence of the gold mining enterprises, jeweler and diamond-lapidary manufactures;

-mining manufacture having an opportunity to export raw material;

-high level of business, high enterprise activity;

-development of a transport infrastructure of republic. The end of construction of iron and highways will allow to connect national transport highways: Transsiberian and BAM, on the one hand, and Northern sea way-with another, will allow to integrate into inter-regional transport streams with the Magadan, Irkutsk, Amur oblast and Khabarovsky kray;

-affinity of commodity markets of the countries NEAR;

-high investment activity. On the volume of foreign investments of the Republic of Sakha (Yakutia) takes the second place in the Far East federal district and 12 place in the Russian Federation.

-unique tourist potential.