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"Government Hour" with the Minister of Economy: support measures become easier

A "Government Hour" during the March session of the Arkhangelsk Regional Assembly of Delegates has been dedicated to the implementation of several economic subprogrammes all at once, told Mr Ivan Kulyavtsev, the Minister of Economic Development of the Arkhangelsk Region.

Thus, the agenda included Fostering an Enabling Environment for Developing Investment Activities, Development of Small and Medium-Sized Enterprises in the Arkhangelsk Region, Industrial Development in the Arkhangelsk Region of the state programme of the Arkhangelsk Region "Economic Development and Investment Activity in the Arkhangelsk Region (2014–2024)" based on 2019 results.

Improving the investment climate in the region

Ivan Kulyavtsev noted that initial studies showed that investments in fixed asset of the Arkhangelsk Region in 2019 amounted to RUB 94 billion – the final statistics with regard to that indicator would be available in the second half of the year.

Substantial additional investment was attributed in the following types of economic activity:

  • agriculture, forestry, hunting, fisheries and fish farming – by 11.4%;
  • wholesale and resale trade, repair of vehicles and motorcycles – by 49.6%;
  • real estate operations – 1.7 times;
  • education activities – 2.3 times.

Besides, in 2019, the regional government launched a number of draft laws aimed at creation of favourable investment climate.

"For instance, the regional law adopted in December ensured the opportunity of investment deduction from corporate income tax for the investors. This law is focused on support for the enterprises encouraging to renewal of main funds", noted Ivan Kulyavtsev.

Development of small and medium-sized businesses

In the Arkhangelsk Region, the regional component of the national project "Small and Medium-Sized Entrepreneurship and Support for the Individual Entrepreneurial Initiative" is implemented within the framework of the subprogramme.

As the Minister told in his report, all targets of the regional projects for 2019 are achieved.

Last year, for the first time in the regional history the entrepreneurs mobilized more than one billion roubles of financial resources within the framework of collaborative arrangements with the regional business support structures adjunct to the Government of the Arkhangelsk Region.

Through the regional component of the national project, RUB 347.7 million were mobilized for additional capitalization of the microcredit company Arkhangelsk Regional Fund Razvitie.

Currently, the funding of the Fund provides the availability of loaned money for the entrepreneurs of the region. During 2019, small and medium-sized enterprises of the Arkhangelsk Region received 587 loans for RUB 500.8 million, which is above the previous year’s level (in 2018 – 181 microloans for RUB 196.3 million). To increase the availability of the financial support measures the microloan rate is reduced every year; at present, an annual rate starts from 3%.

In 2019, the Investment Company Arkhangelsk – as a guarantee fund – issued 39 guarantees to small and medium-sized enterprises to allow them to ensure the mobilization of loaned money in volume of RUB 452.9 million.

Another important indicator was that the employees of the business support centre provided advisory services to 448 individuals and small and medium-sized enterprises; organized 47 events attended by 5272 people – more than 1000 of them were small and medium-sized enterprises; delivered 13 trademark registration services; participation of 27 representatives of small and medium-sized businesses in 8 all-Russia exhibitions was ensured.

Productivity enhancement at the enterprises of the Region

According to the plan adopted by the Ministry of Economic Development of Russia, the Arkhangelsk Region should become a member of the national project "Productivity Enhancement and Employment Support" in 2021. However, the enterprises of the Region already have the opportunity to join the project, to obtain the status of participants and have access to the available support tools. The region has become empowered to start the work with the national project for productivity enhancement ahead of schedule.

In 2019, within the framework of the project, three enterprises of the region were trained on the federal programme "Leaders in Productivity". Click the link (Rus) for more information.

At this stage, the Ministry works intensively to involve the enterprises of the region into the implementation of the national project.

In 2020, activities in all the above-mentioned directions will be continued. For example, it is planned to pursue the modification of existing legislation of the Arkhangelsk Region with a view to support the organisations implementing the regional investment projects. Besides, the development of proposals regarding taxation benefits for small and medium-sized enterprises will be started.

Press Office of the Ministry of Economic Development of the Arkhangelsk Region