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Russia Arctic development strategy to be signed in August

July 22/ 08:24

Moscow. The strategy for development of the Russian Arctic zone is expecting approval at the Presidential administration, Minister for the Development of the Russian Far East and Arctic told a press conference on Tuesday, adding that it is planned that the document will be signed in August.

Russian President Vladimir Putin announced the plan to adopt a new strategy for the Arctic development through 2035 that will integrate the activities of National Projects and state programs, investment plans of infrastructure companies, programs for development of the Arctic regions and cities, in April 2019.

"That is one of our country’s major strategic documents. I should note that there is a framework and a strategy. The framework [of the Arctic development] has already been signed by President. The strategy is at the Presidential administration expecting approval, and we expect the document to be signed in August," he said.

The document has been developed for implementation of the main areas of Russia’s state policy in the Arctic through 2035 approved earlier by President’s decree. The strategy defines the main areas and tasks of development of Russia’s Arctic zone, as well as mechanisms, stages and expected results of their implementation. The ministry developed the provisions of the strategy together with Arctic regions and representatives of the academia, told TASS.

Currently the work is underway on new mechanisms of development of the Russian Arctic zone. The main areas of Russia’s state policy in the Arctic through 2035 have already been approved. The state program on the Arctic development that will envision particular steps, including those on investment attraction and jobs creation, is being drafted on the basis of the strategy. Moreover, subsidies for investors planning to implement new projects in the Arctic have been greenlighted. They stipulate a number of tax and non-tax preferences.

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