Lipetsk region has completed structuring of the regional investment standard

The Lipetsk region government has completed structuring of the regional investment standard 2.0. This is a unified system of support and assistance for investment projects, which creates favorable conditions for doing business, helps investors interact with regional authorities and resource supplying organizations, reduces the number of bureaucratic procedures.

The Lipetsk region has become one of the pilot regions for implementation of the investment standard. In order for this procedure to be considered complete, several mandatory items had to be implemented. These are the development of investment declaration, set of investment rules, creation of the Investment Development Agency, investment committee, investment map. All items of the standard can be found on the Investment Portal of the Lipetsk region. There is also a map with free land plots and objects for business development. The map contains the addresses of sites, their sizes, coordinates, cadastral numbers, land category, availability of engineering and transport infrastructure.

"Today the work on investments attraction is in the focus of attention of regional authorities as well as the Federal Government. The main task, which we set ourselves during the formation of the investment standard, is to simplify procedures for the launch of new investment projects. The investor must be informed as much as possible about the support measures and existing sites for the organization of new production facilities. Much attention was paid to the mechanisms of attracting investors", said the Vice-Governor of the Lipetsk region Sergey Kurbatov.

On Monday, November 7, the Prime Minister of the Russian Federation Mikhail Mishustin made an important statement. Regions providing businesses with an opportunity to get an investment income tax deduction will continue to receive partial compensation for shortfall in income - up to 200 million rubles for each company. By this measure the regions will be able to take advantage this year, as well as in 2023. To do this, it is necessary to confirm the implementation of the regional investment standard by December 1.

"Such a deduction is in demand among entrepreneurs and is one of the mechanisms to encourage investment activity of business. It allows investors to reduce the amount of corporate income tax, reduce the cost of their project and implement it faster", explained Mikhail Mishustin.