Republic of Karelia for investors
Ladies and Gentlemen!

According to the strategy of the social and economic development of the Republic of Karelia until 2020, the Government of the Republic has set up the goal of gradual move to the innovation stage of development. One of the key factors in achieving this goal is the development and regular implementation of the rational investment policy. That is why our priority task is attracting investors, creating favorable investment climate, and assisting investors in the implementation of their projects.

The Republic needs investments. The Government of Karelia is ready to accept an unlimited volume of investments in all spheres of economic activity. The Government will provide favorable environment to all the investors who plan to invest or already have investment projects on the territory of the Republic of Karelia. This means transparent, profitable and reliable work of the businesses with tax, supervising and law-enforcement agencies and other government organs.

The Government expects that investors, in return, will provide reasonable, justified, long-term, and rational use of the natural resources, as well as work force and technical resources available in the Republic. Such an attitude assumes the preferable use of local work force, cooperation with Karelian research organizations, and placing orders at local enterprises.

At the same time, the Government of Karelia will use exclusively market methods while deciding the questions of investment activity, which are within the jurisdiction of the republican authorities. The main criterion of evaluation of the projects is their economic and social effect.

While implementing investment projects the Government strives to fairly distribute responsibilities between the organs of power and investors for maximum mutual benefit; these are responsibilities of choosing and preparing the land plot, social burdens, and financing the construction of infrastructure.

In order to create reliable and foreseeable working conditions on the territory of the Republic the Government emphasizes one more time that providing the safety and protection of lawful investments on the territory of Karelia is its priority. To implement that, the Government guarantees constant free access to the organs of executive power in order to solve any problems, and cooperation with the organs of local self-administration.

Investment activity to implement various projects in the Republic is viewed as important and desirable, and helping such initiatives is obligatory for all the organs of executive power who are involved in the implementation of investment projects.

Minister for Economic Development of the Republic of Karelia
Mikhail Nikolayevich Yurinov