Investment policy pursued by Kursk Regional Administration is targeted at creation of favourable conditions for investors to conduct business in the region.
The developed regulatory framework was set up to regulate investment activity in the region. Regulatory documents include the regional law “On Investment Activity in Kursk Region» and a number of resolutions by the Governor of the region.
The law “On Investment Activity in Kursk Region” stipulates the following forms of state support to investors:
creation of most favourable treatment regime
granting impersonal tax rebates for investors
granting investment tax credits in accordance with legislation of RF and Kursk Region within the limits of budgetary funds
On competition basis investors can be granted:
budget credits
budget investments
subsidies for partial reimbursement of expenditures on interest payments on credits obtained by investors
state guarantees using regional budget funds
preferential terms for use of public property of Kursk Region
securing investors’ obligations to the credit institutions by means of pledging property and proprietary rights of Kursk Region
subsidies for partial reimbursement of equipment lease payments
Investors implementing investment projects in the region under most favourable treatment regime are exempted from corporate property tax payment during the project payback period, but not more than 4 years, or 5 years in respect to the projects involving construction of new enterprises.
In 2008, the pledge fund was established in the region to secure obligations of organizations which have raised borrowed funds for development of production operations.
Investment rating
In 2008-2009, Russian rating agency “Expert-RA” assigned 3B1 regional investment rating to Kursk Region (lower potential – moderate risk), which put it on a par with such economically developed and active regions like Kaluga, Yaroslavl and Leningrad regions.
Kursk Region ranked 36 in Investment Potential Index and 23 in Investment Risk Index among 83 Russian regions.
Management risk is the lowest investment risk, economic risk is the highest one. The highest potential is innovative.
Contact information
Committee on Economic Affairs and Development of Kursk Region
Committee Chairman
Natalya Zasukhina
6, Krasnaya Ploshchad (Red Square), 305002 Kursk, Russia
Phone: +7 (712) 554-413, 220-141, 512-355
E-mail: econinv@yandex.ru
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