cconcentration of investment in the following sectors: fuel and energy industry, timber processing complex, mining, transport system, housing and utilities complex
unified legislative system securing development of investment activities in the region
information transparency
unified system of state support executed to the subjects of investment activity
political, social and economical stability
Unified regional investment legislation specifies legal, organizational and economical basis for investment activity in Komi Republic. The principal laws are "Investment Activity in Komi Republic" and "Tax rebates in Komi Republic", together with a number of government resolutions and decrees and those of the Head of Republic.
Within 2009, there was a considerable growth of investment in capital stock, as major investment projects have been implemented: "STEP" ( JSC Mondi SLPK) - construction of Bovanenkogo–Ukhta gas pipeline (JCS Gazprom) and construction of a Complex for petroleum and gas treatment and refining (Yenisey, Ltd.).
To all the subjects of investment activities regardless of their property categories the Government of Komi Republic guarantees:
securing of equal rights in their investment activities
open discussions of investment projects
adherence to contracts’ specifications
stability of investor’s rights and protection of investments
Moreover, all necessary conditions for successful operation will be created for the subjects of investment activity, executing their investment projects within Komi Republic.
Priority trends in development of investment sphere of Komi Republic
Over 70 large scale investment projects are being implemented or projected in Komi Republic. The priority sectors for investment in the regional economy are pulp-and-paper, wood processing, gas and petroleum, mining and chemical industries and transport.
"STEP" (JSC Mondi SLPK) has become the largest Russian project involving attraction of private funds into paper-and-pulp and wood-using industries of the past 30 years.
Its implementation will result in the increase of the following figures:
Volume of electric energy sales – by 80 mW;
Capacity of wood utilization – by 1 mln.m3/year,
Production of cellulose – by 190 thous.tons/year; paper – by 52 thous.tons/year; paperboard – by 46 thous.tons/year.
"Construction of Bovanenkovo-Ukhta gas pipeline system" (JSC Gazprom) is a large scale gas project, aimed at development of hydrocarbon material field at Yamal Peninsula and construction of gas transportation system (Megaproject "Yamal-Europe") able to transport 250 bln m3 of gas per year, which in the long view could make Komi Republic one of the leading transit regions, transporting over half of all natural gas extracted in Russia.
The project “Construction of high-priority complex for oil and gas treating and refining with capacity of 1 mln. tons of crude oil” (Yenisey, Ltd.) is designed to supply best-quality oil products to domestic market and other Russian regions due to introduction of new technologies.
Ratings of investment attractiveness
In 2009, the international rating agency “Fitch Ratings” confirmed the long-term ratings for Komi Republic in foreign and national exchange at “BB” level and the short-term rating in foreign exchange at “B”. The national long-term rating was confirmed at “AA-(rus)”. The outlook for all the long-term ratings is “Stable”. The confirmation of ratings shows that the Government of Komi Republic has managed to maintain high social and economical indices of the region under conditions of global financial instability.
In 2010 the leading Russian rating agency “Expert RA” affirmed the region′s national credit rating at "A+", outlook stable.
In 2010 the international rating agency "Moody’s" affirmed Komi Republic′s national credit rating at “Аa2.ru”and global credit rating in foreign and national currency at “Ba2.”
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