Prime Minister Mikhail Mishoustin instructed to increase the investment attractiveness of the North Caucasus and withdraw its economy from the shadows. The appropriate document is published on the government website.
It says about the need to develop by July 1, the model of state support for the investment attractiveness of the North Caucasian Federal District (SCFO). Mishoustin’s responsible for this appointed the Ministry of Economic Development and the Ministry of Finance.
By August 1, the same departments together with the Federal Tax Service (FTS) should develop a system of measures to reduce the share of the shadow sector in the region’s economy.
In addition, the Ministry of Economic Development is entrusted to prepare proposals for the conditions for providing land in the territory of special economic zones of SCFO for the needs of strategic investors.
In April, the Accounts Chamber prepared a report on the results of the activities of the Institutes of Development of the SBFO for the last 10 years. According to auditors, the agencies could not achieve a positive impact on the performance of individual industries and the region’s economy as a whole. Since 2011, the gross regional product has decreased by 2.6 percent.