The Government of the Murmansk region begins 2020 with active work on priority tasks - the first potential residents of the priority development area «Capital of the Arctic» have been determined. This was announced on January 9, 2020 by the head of the region Andrey Chibis.

Among the first potential residents of the PDA are NOVATEK – Murmansk LLC with a project to create the center for the construction of large capacity marine structures in Belokamenka; MTP Lavna LLC with a project to create a coal terminal on the Western coast of the Kola Bay and Port Liinahamari LLC (a subsidiary of MMC Norilsk Nickel) with a project to create a tourist cluster in the Pechenga district.

The residents of the PDA will be able to receive significant tax benefits, such as reducing insurance payments, 0% for income tax, property tax and land tax for the first 5 year period, reducing the time for inspections to 5 days, the possibility of federal funding for infrastructure, VAT exemption (import and export).

The port of Murmansk will receive the status of a free port and it will simplify registration procedures, promote international trade and transit traffic and develop the cruise tourism.
Posted by: 09 January 2020
AA