Investment Projects in the Arctic: Incentive Regimes
For more than a year and a half, the world’s largest special economic zone has been operating in the Russian Arctic. It brings together several preferential regimes in nine of the country’s regions, and, despite the challenges posed by the global economy, the business community’s interest in implementing projects in these hard-to-reach territories is only growing. Over the past year, the number of residents of preferential regimes in the Arctic has increased by more than 250, which shows how appealing the range of tax and administrative benefits are. However, the climatic features of the Arctic regions and the specifics associated with the implementing projects there exacerbate various problems for investors, particularly given the turbulence of the global economy this year. What role can the Russian Arctic play in developing the economy during this period of sanctions? What referential solutions in the Arctic do these new times dictate? What major projects are already being implemented and may be promising in the near future? What support measures do residents need to ensure independence from Western organizations and holdings?
