Pskov Region possesses significant and dynamically developing investment potential. Favorable business climate, developed regulatory framework, considerable production capacities, highly qualified staff; vast idle lands enable investors to set up their production facilities in Pskov Region in a relatively short time.
A long-term target program “On creation of favorable investment climate in Pskov Region in 2010 – 2012” adopted in the region aims to create favorable environment for enhancement of the investment activity.
Administration of Pskov Region plans to attract investment to the implementation of promising investment projects on the territory of the region, improve the system of state support rendered to investors and arrange investment grounds’ infrastructure in view to allocate new production facilities on the public-private partnership basis.
Administration’s activities are also aimed at creation of positive investment image of Pskov Region by means of publicity events, as well as at working out the preliminary design documentation and implementation arrangements for the implementation of promising investment projects in top priority sectors of the regional economy.
The Program implementation will contribute to:
Creation of favourable investment climate in Pskov Region
Improvement of procedures for rendering state support of investment activity
Development of the territories assigned for investment project implementation
Creation of engineering infrastructure, essential for realization of major investment projects
Investment attraction to the implementation of promising investment projects in the real sector of economy, including those implemented on public-private partnership basis
Upgrading the region’s investment attractiveness rating
Creation of information resources providing investors with up-to-date information about the investment potential of the region, including creation of database of information on free resource and investment grounds of the region
In view of the ongoing border expansion of the EU and thanks to its near-border location, Pskov Region is becoming a start-up area for European companies entering the Russian market.
Legislation
Regional investment promotion activities are regulated by the law “On Tax Rebates and State Support of Investment Activity in Pskov Region”.
Pskov Region is the only region in the Northwestern Federal District where taxpayers can legally choose between two alternatives of tax rebates utilizing – either upon application or upon permit.
To simplify this procedure, investors don’t need to take account of actual payback period of investment projects and keep separate books for computation of tax rebates in reference to the investment project.
Investor receives immediate right to lessen property tax payments upon application, in case the investment in production exceeded RUR 1 million during a year. This tax rebate is provided for 5 years, after the taxing authorities have been notified.
Preferential income tax rates (13.5%) and property tax rates (0.01%) are applied upon permit in respect to the projects approved by the regional Administration, for the period of 5 years and to all the property and all the income of organization in general, in case the amount of tax rebate remains as high as 50% of the investment volume during 5 years.
All the investors are guaranteed against change of tax treatment.
The law stipulates monitoring of strategic investment projects that involve over RUR 100 million of investment. The relevant agreement, signed by the Administration of Pskov Region and the investor, secures Administration’s assistance to investor in obtaining all the required permits and approvals by public and local authorities of the region.
Investment rating
The Expert RA rating agency has assigned 3B2 investment rating (insignificant potential - moderate risk) to Pskov Region. The region ranked 35th in investment risk index and 64th in investment potential index among 83 regions of Russia. Social risk is the lowest investment risk, while management risk is the highest one. Infrastructure potential is the highest investment potential.
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