Head of Investment Policy Department of the Committee for Economic Development and Investment Activity of Leningrad Region Natalia Gershun presented new investment incentives in the region during a meeting with the Association of European Businesses.
Investors implementing new projects in the region can conclude an agreement on protection and promotion of investments (APPI).
After conclusion of the agreement investors receive two benefits. The first benefit is the guarantee of stability of the legal status which means implementation of the project in the same conditions in which it was planned.
Depending on the amount of investments investors receive stabilization of tax and other regulatory conditions for the period from 6 to 20 years.
The second benefit is reimbursement of incurred infrastructure costs: energy, transport, communal infrastructure required for implementation of an investment project and payment of interest on credits and loans.
Support under APPI conditions can be provided to investment project with the volume of investments from 200 million rubles. Now APPI can be concluded only at the federal level, but from April 2021 – at the level of Leningrad region.
Another mechanism is budget investments in creation of infrastructure facilities.
Investors implementing new projects amounting to 250 million rubles can count on reimbursement of expenses on engineering, transport, energy and communal infrastructure.