In Bashkortostan, thanks to the reginveststandard, the investment and construction cycle has been reduced by 40%

The investment and construction cycle in terms of investor action algorithms has been reduced by 40% due to the regional investment standard (reginveststandard). This was stated by the Prime Minister of the Government of the Republic of Bashkortostan Andrey Nazarov.

We create the most loyal business environment. Bashkortostan is one of the leaders among the subjects of the Russian Federation in terms of tax benefits (reduced tax rates) provided to investors in accordance with republican legislation. Their volume and number are growing every year. Having analyzed the regional picture of access to investment preferences, we came to the conclusion that in our republic support measures are among the best in the country," notes Andrey Nazarov.

At a meeting with the regional investment group, First Deputy Prime Minister of the Government of the Republic of Bashkortostan, Minister of Economic Development and Investment Policy Rustam Muratov said that all 5 elements of the reginveststandard operate in the region: strengthening the functionality of the regional development agency, investment declaration and investment map of the Republic of Bashkortostan, investment committee, as well as a set of investment rules.

Since 2022, the Republic has been successfully participating in the initiative of the Ministry of Economic Development of Russia to introduce a Regional investment Standard. Tremendous legal and technological work has been done in Bashkortostan and in 2 years we have achieved great results. Our republic has been noted by the federal center as the best practice in implementing the reginveststandard. Now we have started forming a single feedback mechanism with entrepreneurs and investors. At the federal level, it is designated as the sixth element of the standard and should be implemented this year in all regions," added Rustam Muratov.

One of the key elements of the Regional Investment Standard is the activity of the development agency, whose functions in Bashkortostan are assigned to the regional Development Corporation. The organization accompanies investment projects implemented in Bashkortostan in a "one-stop shop" mode, from concept development to commissioning of the facility. Nail Gabbasov, Director General of the Development Corporation of the Republic of Bashkortostan, told the meeting participants about the tools used to work with investors.

The task of the Development Corporation is to assist and accelerate the implementation of projects. We systematically approach the support of each project, including the selection of a site, the formation of necessary documents for obtaining state support, interaction with resource-supplying organizations, obtaining a construction permit and final implementation. A separate block of our work is the information content and updating of the Investment Map of the region, which is also an element of the regional investment standard. I will note the tools that we use to create a favorable investment climate in the region - virtual tours of free sites in 360 format and business cases with options for investment sites, financial performance indicators of the project and selected government support measures. All this helps us to make the process of investors entering the region much more comfortable," Nail Gabbasov noted.

According to the Message of Russian President Vladimir Putin to the Federal Assembly of the Russian Federation, the task is being fulfilled to create a system for supporting new investment projects and its implementation by 2024 in all subjects of the Russian Federation. To assess the implementation of the Regional Investment Standard in the subjects of the country, regional investment groups have been created from among business associations and investors.

The work of regional investment groups to assess the implementation of the standard is regulated by a trilateral agreement between the Chamber of Commerce and Industry, "Business Russia" and the Russian Union of Entrepreneurs and Industrialists. This is a document on cooperation in monitoring and confirming the implementation of a support system for new investment projects. Regions that have confirmed the implementation of the standard receive the right to apply for a subsidy for an investment tax deduction," said Aidar Zubairov, chairman of the Bashkortostan regional branch of the all-Russian public organization Delovaya Rossiya.

It should be noted that Bashkortostan annually undergoes a procedure to confirm the quality of the implementation of the regional investment standard. In 2024, the indicators for the elements of the reginveststandard will be integrated into the indicators of the National Investment Rating, the results of which will be announced at the St. Petersburg International Economic Forum.