Investments will be issued a ticket to the Caucasus // The authorities promise to support private investments in the macroregion

By the end of June, the Ministry of Economy should present to the White House a model of state support for the investment attractiveness of the regions of the North Caucasus. Such an order was given by Prime Minister Mikhail Mishustin on Tuesday at a meeting in Pyatigorsk. The participants in the meeting acknowledged that the current program for the development of the macroregion has not brought tangible results – the pace of economic growth, the filling of budgets from their own revenues and the volume of attracting investments in the North Caucasus are still far behind the average Russian indicators.

Mikhail Mishustin in Pyatigorsk held a meeting with members of the legal commission on the development of the North Caucasus. With the current composition of the government, this was the first broad discussion of the problems of the macroregion at the level of the prime minister. It was assumed that proposals for their solution could be included in the new strategy for the development of the North Caucasus until 2035. “The program for the development of this macroregion, which has been implemented in recent years, let’s be honest, has not brought tangible results, there are still a lot of problems that need to be addressed, including at the federal level,” said Mikhail Mishustin.

Let us explain that the current state program in April was extended until 2030 – it is planned to allocate 196 billion rubles for it from the budget, with an emphasis on increasing funding for support of investment projects and the tourism sector (see Kommersant of April 12). In general, according to the estimates of the head of the Ministry of Economy Maxim Reshetnikov, in 2020 a record 480 billion rubles were allocated for the needs of the North Caucasus – an increase in comparison with 2019 amounted to 40% at once. This was due to an increase in social spending and an increase in subsidies to ensure the balance of the region’s budgets.

So far, the return on such large-scale support is small.

According to the Ministry of Economy, the gross regional product of the North Caucasus per capita is now almost three times lower than the national average (232 thousand rubles against 646 thousand rubles).

The share of tax and non-tax revenues in the budgets is about half as much – 35% versus 76%. At the same time, the gap in both indicators has even slightly increased in recent years. The volumes of attracting investments are also low – 71 thousand rubles. per capita at 137 thousand rubles. the national average. According to Mikhail Mishustin, if in the Far East 1 rub. budgetary investments account for 30 rubles. private funds, then in the North Caucasus – only 0.5 rubles.

To attract private funds to the district’s economy, the Prime Minister instructed the Ministry of Economy to complete the development of a model of state support for the investment attractiveness of the Caucasian regions by the end of June. Note that earlier the main mechanism for supporting investment activity in the North Caucasus was the participation of development corporations in the authorized capital of investors. However, this mechanism was found to be ineffective – because of this, the selection of projects in 2020 was even suspended. As Maxim Reshetnikov said on June 15, investors from the undertaken obligations for 17 billion rubles. fulfilled them only for 9.5 billion rubles.

The problem with attracting private capital became one of the reasons for reforming the Caucasian development institutions – in April, on the basis of the North Caucasus Resorts JSC, a united development institution was created (the rest were abolished). As noted by Maxim Reshetnikov, this made it possible to optimize costs for two years by 1.5 billion rubles, the balances on the accounts of state corporations are estimated at 15 billion rubles – these funds are planned to be directed to the investment development of the Caucasus.

Among the measures proposed at the meeting is a risk sharing mechanism, which implies the issuance of loans to investors under partial guarantees of the state corporation.

A mechanism for partial compensation of investors’ costs for creating infrastructure for their project (provided that it works) is also being considered.

In industrial parks, the construction of infrastructure will be carried out by a single institute for the development of the North Caucasus. The regional industrial parks in the center are considered as a way to solve the problem of informal employment, the share of which, according to the presidential envoy to the North Caucasus Federal District Yuri Chaika, reaches 50% of the working population (twice the national average). It is proposed to make such sites “white zones”, where businesses can both receive support and legalize – for this, the Ministry of Economy proposes to provide such sites with a preferential regime with a preferential tax system.

Evgeniya Kryuchkova, Pyatigorsk

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