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Government regulated the stages of selection of investment projects for implementation in the Far Eastern Federal District and the Baikal region - EastRussia | Far East

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The government regulated the stages of selection of investment projects for implementation in the regions of the Far Eastern Federal District and the Baikal region

The recently updated state program "Socio-economic development of the Far East and the Baikal region" has now been supplemented by another detail document - Russian Prime Minister Dmitry Medvedev signed a government decree on the specified procedure for selecting investment projects proposed for implementation in the Far East and the Baikal region. The signed document expands the rules for evaluating investment projects and supplements the already existing methodology

The government regulated the stages of selection of investment projects for implementation in the regions of the Far Eastern Federal District and the Baikal region
Document published today on the website Government.

The requirements for both the investment projects themselves and for the persons nominating them for implementation in the DFO regions are clarified.

This includes the stages of the selection of investment projects, as well as the criteria for such selection, including the amount of private investment, the number of jobs, the amount of income to the budgets of the budget system of the Russian Federation during the implementation of the investment project during 10 years, the added value that will be created in the second year after investment project at full capacity.

The investment projects that have been selected will be reviewed and agreed by the current subcommittee on the implementation of investment projects in the Far East and in the Baikal region of the Government Commission on the socio-economic development of the Far East and the Baikal region.

As reported in the explanatory note to the document, the proposals, further agreed by the subcommittee, will be included in the list of investment projects that are permissible for implementation in the territories of the Far East and the Baikal region.

The functions of the subcommission itself are also expanded and supplemented - now it is in charge of approving action plans (“road maps”) to support and facilitate the implementation of investment projects planned for implementation in the Far Eastern Federal District and Transbaikalia.

The adoption and approval of such decisions was caused by the task of forming a list of investment projects, for the implementation of which non-financial government support will also be used. It is assumed that as a result it will be possible to talk about an increase in the number of jobs, an increase in tax revenues and gross regional product in the Far Eastern Federal District and the Baikal region.