Rustam Minnikhanov: The adoption of a draft law on protecting and promoting investment will contribute to increasing investment attractiveness

On January 15, speaking on the sidelines of the 11th Gaidar Forum, Tatarstan President Rustam Minnikhanov said that the adoption of a draft law on protecting and promoting investment will contribute to increasing investment attractiveness.

“We have been expecting this law for a long time. I hope that it will be adopted. Tatarstan is ready to be actively involved in this work. Today, the republic has formed a portfolio of promising investment projects for a total amount of up to 5 trillion roubles. They have not been done yet. However, we can make use of the possibilities of this draft law to implement them," Tatarstan President said.

Minnikhanov noted that in general over the past 3-4 years investments in fixed assets have amounted to at least 600 billion roubles in the republic. “To maintain such a pace, we use all available opportunities. Five territories of advanced economic development have been established in Tatarstan, two special economic zones and a number of industrial sites are operating successfully,” he added.

Minnikhanov noted that support for investors and business development infrastructure is very important. “For example, our Master Kama Industrial Park is the largest industrial site with a total area of ​​1.5 million square metres. But none of this would have appeared without state support, ” Tatarstan President pointed out.

He noted that the Alabuga-2 park project, which was previously supported, is an example of the use of mechanisms to subsidize the costs of creating infrastructure. This territory is intended to become a centre for the development of the petrochemical cluster. The total investment is expected to exceed 242 billion roubles.

Minnikhanov emphasized that today it is becoming increasingly difficult to attract investors from Europe and the USA, and called on federal colleagues to actively contribute to this work.