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Mechanisms to encourage investment process in the Astrakhan region

The Government of the Astrakhan region uses different mechanisms to

stimulate investment process in the region combining administrative (investment

law improvement, assessment and monitoring of investment projects) economic

(government support for priority projects by tax benefits, budget guarantees,subsidies, mechanisms of depreciation and capital charges) and institutional

mechanisms to create and support a number of institutions necessary for subjects

of regional investment system and to implement the investment strategy of the

region

1. Creating an enabling regulatory environment for investment

 An Investment Council under the Government of the Astrakhan Region  is

established in the region as a coordinating, inter!agency body for investments with

the view to improve the investment climate and interaction with investors The"ouncil is chaired by the #ice!governor ! "hairman of the Government of the

Astrakhan $egion and formed from the heads of relevant executive authorities of 

the Astrakhan region

 %on!&rofit &artnership "The Caspian Investment Agency"   is defined as a

strategic partner of the Government in the field of investment promotion and

investor relations

't has the following main functions to create positive image and

attractiveness of the Astrakhan region in $ussia and abroad regularly search and

attract investors develop promising investment areas create project teams to

support specific investment projects as well as to develop proposals for improving

the investment climate

The main emphasis by the Government of the Astrakhan region is on

improving the regional investment legislation.

A new adopted *aw of the Astrakhan region %o+-./++!01 dated

+2/3./++ 45n public support of investment activity in the Astrakhan region4,

allows the Government of the Astrakhan region to use new mechanisms to

stimulate investment activity including tax benefits, public investment, subsidies

from the regional budget,  state guarantees as well as to provide property of the

 Astrakhan region as security for loan obligations of investors in theimplementation of significant projects in the region.

"urrently, the Agency for 6tate &roperty 7anagement of the Astrakhan

region defines a list of the regional property objects to be included in the mortgage

fund of the Astrakhan region as well as determines how to transfer these objects to

guarantee fulfillment of loan obligations of subjects of investment activities who

have no property, property rights, allowing them to enforce the obligations in full

'n addition, the new law provides informational support   to investment

activity in the Astrakhan region as well as uality monitoring of investment 

 projects by heads of executive bodies and local authorities with their personalresponsibility for the implementation of projects

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2. Creating the infrastructure prepared for investments

Territories of the integrated development !TI# with infrastructure prepared

for investments are formed in the Astrakhan region in order to create conditions for 

industry and agriculture development including new production and the most

advanced technologies

'n accordance with the $esolution of the Government of the Astrakhanregion %o +3!& dated 2+/2./+/ 85n the procedure for creating territories of the

integrated development of the Astrakhan region9 municipalities form isolated areas

and within their boundaries by the respective budgets carry out land management,

 put the land to the state cadastre, register land rights and supply it with energy,

engineering, transport and telecommunications infrastructure

"urrently, two territories of integrated development have already been

formed in the Astrakhan region They are the following 8'ndustrial and

"ommercial park 81aboldinskiy9 (Astrakhan, *eninskiy district) and Agro!

industrial park 8Alcha9 (Alcha settlement, 8:ubileyninskiy selsovet9,;rasnoyarskiy district of the Astrakhan region) *ocal authorities of the Astrakhan

region are the projects initiators

3. Formation of financial mechanisms to attract and support investment

The Government of Astrakhan $egion actively works with local and

international development institutions, investment and venture capital funds,

 banks, foreign government investment agencies, speciali<ed financial institutions

and organi<ations to promote various investment projects

't has entered into cooperation agreements with the 6tate "orporation 4=ank 

for >evelopment and ?oreign @conomic Affairs (#nesheconombank)9,

8$osnanotechnologies9, :6" 4$ussian #enture "ompany9, as well as a non!profit

 partnership 8%ational Association of =usiness Angels of $ussia9

4. a! "ncentives for investment

'n accordance with the *aw of the Astrakhan region 85n state support of 

investment activity in the Astrakhan region9 investment projects with a status of 

8investment project, approved by the Government of the Astrakhan region9 and

8particularly important investment project9 are provided with exemptions for 

income and property taxes in accordance with the regional legislation

6tatus name

'ncome tax &roperty tax

=asic rate "oncessionary rate =asic rate "oncessionary rate

8particularly important

investment project9

2#$

13%& $

2%22$

#%2 $ (on all

 property)

8investment project,

approved by theGovernment of the

Astrakhan region91&%& $

++ (on the

 property involved

in the project)

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'nvestment projects with a status of $investment projects implemented in the

territory of the integrated development%  are supplied with transport and (or)

technical infrastructure for their reali<ation on the territory of the integrated

development

There are ..2 investment projects being currently implemented in the region

with total investment of 2+ billion rubles