The Government of the Russian Federation has approved creation of priority social and economic development area “Capital of the Arctic” in the Murmansk region. This is the first priority development area launched in the Russian Arctic.
Priority development area is to include the city of Murmansk and the Kola district. Minimum investment amount for the residents is 500 thousand rubles. Customs-free zone determined by the Russian Federation law and by the treaty of Eurasian Economic Union is in force at priority development area. Construction of engineering and transport infrastructure is to be accomplished by means of non-budgetary funds.
Over the course of the State Committee on the Arctic Development meeting Governor Andrey Chibis presented a report stating the strategic importance of the project for the Murmansk region. It is estimated that it will provide around 40 billion rubles to the regional budget up till 2035.
As of today there are 4 projects included into priority social and economic development area. Federal and regional authorities are currently working on including Liinahamari port project designed for receiving cruise ships as well as refrigerator terminal construction at Minkino into priority social and economic development area “Capital of the Arctic”.
