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Integrated investment - development of Yakutia
How to stimulate investment in the largest DFO region
The Development Corporation of the Republic of Sakha (Yakutia) is a regional development institution established by the republican government in 2014. It was done with several purposes, but the main one is the use of a modern and effective instrument to promote the development of the region, capable of attracting investors and supporting their projects at all stages of implementation.
The Republic of Sakha (Yakutia) is one of the most dynamically developing regions of Russia. The economy, based on the extraction of minerals, demonstrates stable growth rates even in the crisis years. At the same time, other areas of development are going on in the republic: IT, creative and innovative sectors.
Throughout the vast area of Yakutia in the future, up to 2050, it is planned to implement ambitious investment projects aimed at a breakthrough advance. But an important condition is the balanced spatial development of the republic's territories.
To achieve such goals, it is necessary to apply the actual mechanisms for the implementation of projects, for example, make full use of the potential of development institutions. One of them is the Development Corporation of the Republic of Sakha (Yakutia) - an independent participant in the investment market, which has the ability to flexibly work with both government authorities and business, and at the same time provide not only non-financial assistance to the implementation of projects, but also act as an investor in The low market attractiveness of infrastructure projects.
This approach ensures the creation of an investment platform in which the risks of the project and the responsibility for its successful implementation are distributed among the participants, rather than being imposed on the whole region alone or only on the private investor.
Being an agent of the state, the Corporation participates in projects that, despite their complexity, create conditions for the implementation of other commercially effective investment ideas.
A striking example is the provision of regular inland navigation, since the territory of Yakutia is completely covered by the Lena river basin, the length of which makes up one fifth of the inland waterways of Russia.
Inland shipping is inextricably linked to the current transport scheme and logistics of cargo delivery, not only within Yakutia, but also in the Irkutsk Region, the Krasnoyarsk Territory, the Chukotka Autonomous District. In addition, such a shipping system provides Russia's competitive advantages in developing the eastern sector of the Arctic.
Without a high-performance river fleet in the Lena basin, successful implementation of investment projects at the stage of construction and operation of facilities is impossible, as well as ensuring uninterrupted "northern delivery".
In this regard, the Government of Yakutia together with the Ministry of Industry and Trade of Russia decided to create a high-tech Zhataisk Shipyard, which will build modern river vessels, at 100% collected from domestic components.
The implementation of the project will ensure the construction of a fleet, the efficiency of which is higher than that available for more than 30%. This will close not only the growing demand for the delivery of goods to the region, but also create new high-performance jobs (both at the shipyard and other enterprises within the framework of cooperation).
The creation of a high-tech Zhataisk Shipyard is part of the Central Yakutia Integrated Development Project, which provides for the expansion of the network of federal, regional and local roads, reliable and affordable flights, the launching of the Berkakit-Tommot-Yakutsk railway line and the construction of the Lena Bridge.
In Central Yakutia, it is also planned to create a single center for the processing of complex ores and concentrates of refractory ores - a competitive industrial facility of the full technological cycle for the production of strategically important and highly deficient metals using the best available technologies.
Such a step should become an incentive for import substitution and meet the demand of high-tech civilian industries for raw materials. In addition, it will be a guarantee of ensuring the interests of national security.
To create a similar center, it is necessary to form a pool of subsoil companies that supply the appropriate raw materials for the production loading.
Now in the mining industry of Yakutia, as well as all over the world, fields with ores with complex components and difficult-to-refractory fields are replacing the depleted ore deposits that are leaving the operation. And the extraction of minerals is gradually shifting from areas with developed industry and infrastructure to poorly developed.
For example, the unique mineral resource base of the North-Eastern Yakutia is dozens of mineral deposits with "frozen" reserves, the vast majority of which are highly deficient and strategic types of mineral raw materials. However, this territory is characterized by extreme natural and climatic conditions, which is exacerbated by the lack of year-round transport infrastructure and centralized energy supply. This set of factors reduces the competitiveness of the end products of enterprises operating here.
For enterprises and potential investors to have an incentive to work in the north-east of the republic, so that they create additional jobs and new industrial facilities capable of paying taxes to the consolidated budget of the country, it is necessary to provide them with competitive advantages.
The Government of the Republic of Sakha (Yakutia) together with the Development Corporation are exploring options for providing state support measures in the framework of the established mechanisms, including the option of creating a territory for the advanced social and economic development of the Arctic.
A comprehensive approach to achieving leadership in terms of the pace of development and the quality of life of people in the country will serve as the basis for a full-scale breakthrough through the creation of new high-performance jobs, the organization of modern industries, the corresponding increase in GRP, the influx of economically active population, and the increase in the share of local budgets.