RANEPA rector attends a meeting with heads of regions that plan to introduce a new investment standard in 2022

03 February 2022
RANEPA rector attends a meeting with heads of regions that plan to introduce a new investment standard in 2022

On February 2, First Deputy Prime Minister Andrey Belousov chaired a meeting with heads of the Russian regions that intend to introduce a new investment standard in 2022. This regional investment standard toolkit has been developed by the Russian Ministry of Economic Development.

According to Economics Minister Maxim Reshetnikov, the new standard incorporates the best practices accumulated during the implementation of the previous one. Its goal is to bring all regions up to the same high level in working with investors.

“We have actually developed and approved an integrated system for supporting new investment projects across the country in just 10 months, and 12 regions are already taking advantage of it. This year, 30 more regions will join the initiative, and by the end of 2024, all Russian regions will comply with the same standard,” Maxim Reshetnikov said.

“Implementation and compliance with the new regional investment standard will be an entry ticket to state support such as investment tax deductions and other measures to promote investment activity. At the same time, we are in no way trying to destroy the existing mechanisms for attracting investment. Only their efficacy will have to be confirmed by the final beneficiary – the investor,” Andrey Belousov said.

Major business associations such as the Russian Union of Industrialists and Entrepreneurs, the Chamber of Commerce and Industry and Delovaya Rossiya (Business Russia) will evaluate the quality of the new standard’s implementation on the ground.

“The business associations have formed joint expert pools in each of the regions. As the new regional investment standard goes on stream this year, Delovaya Rossiya will coordinate its monitoring and verification, and will provide a platform for the testing procedures and feedback. This will be done in accordance with the Ministry’s methodological recommendations and deadlines,” Delovaya Rossiya chairman Alexey Repik explained.

The Presidential Academy will launch a special educational program for deputy governors, ministers, department heads, heads of government agencies, heads of municipalities and other officials to help ensure that the new standard meets investor needs. The program, Managerial Excellence: Development of Regional Teams, is expected to serve about 1,000 people a year.

“We have been implementing various programs for investment teams in Russian regions and municipalities since 2017. We are proud of our graduates’ success and will continue this project with pleasure,” RANEPA Rector Vladimir Mau said. “RANEPA Graduate School of Public Administration is implementing a series of programs on Managerial Excellence: Development of Regional Teams. GSPA leads our flagship projects for the preparation of top-level personnel. The new program’s priorities are to promote the implementation of the best practices included in the new investment standard, to help prepare competitive and client-centric regional managers who would speak the same language with investors, and, of course, to facilitate the exchange of best practices between various regions.”

According to the rector, the program participants’ high motivation is very important for the overall success. It is one of the programs where participants can be students and experts at the same time: they analyze the best domestic and foreign practices, share experiences, and develop leadership skills and teamwork competencies.

“The goals of the program are to develop the best practices of public administration in the regions for their subsequent replication, to implement projects that contribute to the development of each region’s overall competitiveness and create an interregional community of managerial personnel on a new level. These goals can be achieved through close cooperation between the Government of the Russian Federation, the Ministry of Economic Development and the Agency for Strategic Initiatives, the involvement of business associations and of course, the personal involvement of regional leaders,” Vladimir Mau emphasized.

The pilot regions have shared their experience with implementing the new regional investment standard. For example, the Sakhalin Region has established an investment development agency, a regional Ministry of Investment Policy, which is a one-stop shop that helps investors.

“The agency accompanies an investor from the application to the launch of the project, advising them on all issues and facilitating their liaison with the authorities. Even today, it supports over 120 investment projects that are being implemented in the Sakhalin Region. Businesses have appreciated this approach, mainly because it significantly cuts the time for processing their permits and eliminates bureaucratic barriers,” Governor of the Sakhalin Region Valery Limarenko reported.

“The new investment standard is an effective toolkit for enhancing a region’s investment potential. Bashkortostan is ready to introduce a support system for new investment projects this year. We already have successful practices in regard to many components of the new standard,” Prime Minister of Bashkortostan Andrey Nazarov said.  


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