Investment Policy Statement of Chukotka Autonomous Region

Investment Policy Statement of Chukotka Autonomous Region

(approved by order of the Governor of Chukotka Autonomous Region dated January 30, 2014 No. 7-rg)

  1. The Investment Policy Statement of Chukotka Autonomous Region (hereinafter referred to as policy statement) established the main investment activity development and support priorities in Chukotka Autonomous Region and directed towards further improvement of the region investment climate. 
  2. Legal relations related to the investment activities in Chukotka Autonomous Region are governed by the Constitution of the Russian Federation, federal laws and laws of Chukotka Autonomous Region and other regulations.
  3. The investment activities in Chukotka Autonomous Region are carried out on the following principles of interaction of government authorities of Chukotka Autonomous Region with business and (or) investment entities:
    equality — non-discriminatory approach towards all business and (or) investment entities within the framework of predetermined and public priority system;
    engagement — participation of business and (or) investment entities in the process of preparation of solutions affecting their interest made by governmental authorities of Chukotka Autonomous Region and in assessment of implementation of these solutions;
    transparency — public availability of information contained in regulations of Chukotka Autonomous Region related to business operations (except for the information constituting state or other legally protected secret);
    effective practice — orientation towards the best (from the point of view of interests of business and (or) investment entities) practice of interaction of government authorities of Chukotka Autonomous Region with business and (or) investment entities;
    balance of interests — consideration of interests of Chukotka Autonomous Region, municipal entities of Chukotka Autonomous Region and business and (or) investment entities;
    publicity in discussion of capital investment projects;
    mutual respect — the interaction between government authorities of Chukotka Autonomous Region with business and (or) investment entities is bases on respect to interests of the parties.
  4. In Chukotka Autonomous Region, in compliance with current legislation, protection of right and interest of business and (or) investment entities is guaranteed, including:
    equal relation towards all business and (or) investment entities;
    absence of restrictions in implementation of their projects under the current laws;
    safety of carrying out business and (or) investment activities in Chukotka Autonomous Region;
    protection of capital investments;
    noninterference in activity of business and (or) investment entities except for protection of legal rights and interests of other persons;
    enforcements of rights of business and (or) investment entities to freely choose contractors, suppliers and any other contracting parties;
    ensuring exercise of rights of business and (or) investment entities; in case of any circumstances related to breach of terms and conditions of access to existing support mechanisms and implementation of capital investment projects;
    implementation of measures aimed at reduction of terms and simplification of procedures for issue of authorization documents for business and (or) investment entities;
    a possibility to provide business and (or) investment entities with tax benefits and state support in accordance with the current laws;
    a possibility of participation of business and (or) investment entities in public discussion of key and problem issues of implementation of capital investment projects at meetings of collegiate consultative bodies on the issues investment activities development in Chukotka Autonomous Region;
    consideration of disputes by means of negotiations during implementation of investment activities by business and (or) investment entities;
    provision of organization support to business and (or) investment entities in form of methodical and consultational help;
    access to public information of government authorities of Chukotka Autonomous Region.
  5. The guarantor of protection of rights and legal interests of business and (or) investment entities in Chukotka Autonomous Region to the extent of established authorities is the Governor of Chukotka Autonomous Region.
  6. Government authorities of Chukotka Autonomous Region implement a set of measures aimed at removal of administrative barriers preventing from implementation of capital investment projects in Chukotka Autonomous Region including those related to reduction of number of stages and cost of technological joining of investment entities to engineering infrastructure facilities.
  7. Government authorities of Chukotka Autonomous Region to the extent of their competence enter into negotiations with investment entities in case of any circumstances related to failure to comply with terms and conditions of provision of state support and in case of any situations related to impossibility of obtaining approval documents from competent authorities within one month after receipt of a corresponding application of an investment entity.