Projects that maximize private investment should be given priority when support measures are taken. This was announced by First Deputy Minister of Economic Development Andrei Ivanov at a Federation Council Committee on the Budget and Financial Markets meeting in Kaluga.

‘In every single project we would like to see a partner who has a close interest in the project cost escalation precisely and the growing capitalization of the Russian jurisdiction in general. Investing in Russia should be profitable both at the federal and regional levels’, Andrei Ivanov said.

To pursue a new investment policy the decisions already taken should become effective, which include the implementation of Investment Protection and Promotion Agreements (IPPAs). The government acts essential for investment agreements operation are to be passed in the foreseeable future.

‘It is vital for each head of the region or municipality to be aware of the investment projects carried out in their area, provide and enhance favourable investing environment and permanently interact with investors. The case in point is the Kaluga region’, the official added.

As First Deputy Prime Minister Andrei Belousov stated before, at least 20 pilot IPPAs totalling ₽900 billion are expected to be signed up to the end of 2020. At least 1,000 IPPAs worth around ₽14 trillion are projected to be reached until 2024.