Egor Borisov: Yakutia is very attractive for investors


Investments compose one third of the gross regional product in Yakutia, which indicates stable rate of the social and economic development. Egor Borisov told journalists about the realization of investment plan and new directions in his TASS interview. 

“We have invited 1.5 trillion roubles of investments in our republic for 7 years. 200 billion roubles were invested in 2015, and we plan to invest 300 billion roubles more by construction of the Power of Siberia gas pipeline”, – Egor Borisov claimed.

Economic diversification was essential for this realization, as the head of the republic said. During development of the Scheme 2020 it was decided to expand basic mining industry as well as oil and gas industry. It  helped us to significantly increase the volume of investments, attract mineral developers and accumulate the regional budget.

“According to economic laws, the region is considered to be developing if the investments compose one third of the gross domestic product. We keep this proportion and therefore Yakutia is the developing subject by this criterion. In total, Yakutia is very attractive for investors as we have a lot of minerals in contrast to other regions. We produce diamonds, gold, coal, oil, natural gas, tin and so on. It should be noted that we maintain control over projects attracting foreign partners” 

“The priority development area (PDA) “Kangalassy” is created in the region to support small and medium-sized enterprises. It’s the only PDA in Russia where the representatives of small and medium business act as residents. It’s expected that the Development Strategy of Yakutia through to 2030 will focus on the support of small and medium-sized enterprises which intend to solve social issues, provide workplaces and wage for residents of republic”, – the head of the region said.

Due to infrastructure limits referred to the vast territory and natural and climatic conditions, it’s hard for Yakutia to compete with other regions in assembly operation as well. First we are talking about the high proportion of transport costs. Therefore, the development of low-cost production is taking into consideration in the republic.

We have the unique techniques as no one in the world develops its agriculture in the permafrost. Whereas we grow raise cereals, vegetables and potatoes, do cattle breeding. We will more actively assist the vegetable production and animal breeding in Yakutia as on the top of that indigenous people are largely involved in this business”, – Egor Borisov concluded.




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