Business programme 2022
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The world’s largest special economic zone has been operating in the Arctic Zone of the Russian Federation (AZRF) for over a year and a half now and the business community’s interest in obtaining the status of a resident in the AZRF is only increasing. Last year, the number of AZRF residents increased by more than 250 investors, which reflects the appeal of the wide range of tax and administrative benefits that have been offered to its residents. In 2021, the list of preferences for AZRF residents was supplemented with subsidies on loan interest rates and the relaxation of capital investment requirements for small and medium-sized enterprises. However, the climatic features of the Arctic regions and specific issues with the implementation of projects have exacerbated various problems for investors. Is the mechanism of tax preferences for AZRF residents sufficiently effective, or does it need to be further refined? Have entrepreneurs faced a greater administrative burden? What should the main focus be when expanding the list of tax and administrative preferences for AZRF residents? How can the list of administrative and tax preferences be improved to take advantage of the Arctic’s main competitive advantages?Roll up
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One of the biggest issues associated with the socioeconomic development of the Arctic territories is how to attract sustainable financing for Arctic projects. Ministries, agencies, international organizations, the scientific and business communities, experts, and public organizations need to join efforts to formulate unified and transparent rules of the game and develop a mechanism to unlock and effectively develop the resource potential of the Arctic. What tools are available to stimulate investment activity in Russia’s Arctic zone? What is hindering the development of the investment climate in the Arctic region?Roll up
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For a long time, policies to develop northern territories have largely focused on support and development for major projects. In recent years, there has been a significant decline in the number of SMEs in the Far North for a number of reasons. Entrepreneurs have been working in a harsh natural and economic environment. Small businesses in the Arctic have highly distinctive features, and now there are more and more unique trends emerging. Entrepreneurs are worried about solving such problems as public administration, development institutions, manpower resources, isolation from transportation, high costs, the availability of funding, limited demand, and administrative barriers. Key measures are currently being taken to simplify the creation and management of business and obtain the status of an Arctic zone resident. All these efforts certainly help to solve existing issues. What are the main objectives for creating infrastructure to support business in the Arctic zone? What opportunities are there to reduce administrative constraints for business in the Far North and the Arctic? What major investment projects can serve as focal points to attract small business?Roll up
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The fishing industry in the Northern Fisheries Basin plays a key role in Russia’s food security, ranking second after the Far Eastern Fisheries Basin. In 2021, over 540,000 tonnes of fish were caught there, which accounted for 15% of the total Russian catch. During the first stage of investment quotas, orders were placed for the construction of 28 fishing vessels and 10 crab fishing vessels, which will make it possible to replenish 80% of the fishing fleet of the Northern Fisheries Basin once they are completed. However, the risks of the orders not being fulfilled have increased significantly given the unfavourable geopolitical situation. At the same time, there are now greater risks of export markets being closed to Russian seafood and a significant reduction in foreign exchange earnings, as a consequence. What measures need to be taken for the industry to gain greater independence amidst pressure from sanctions? Is this an appropriate time to create a specialized Russian trading platform (a fish exchange)? What measures should be taken to transition to import substitution and start manufacturing equipment and components for fish processing and ship equipment? What new markets are available for Russian seafood in the current environment? Who could become alternative suppliers of equipment and components for the needs of the fisheries industry?Roll up
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The Arctic Zone of the Russian Federation (AZRF) contains a quarter of the country’s domestic oil reserves and more than 70% of its gas, which are worth USD 20 trillion, according to preliminary estimates. They could account for 20–30% of oil production by 2050. However, the vulnerability of the Arctic’s natural ecosystem as well as its harsh weather and climatic conditions, remoteness, and poor infrastructural development pose a challenge to the existing working principles and require brand new organizational and technological solutions. Hydrogen and renewable energy could become some of the most important elements in terms adapting the Arctic’s energy infrastructure to climate change. Oil and gas companies and other energy companies operating in the Russian Arctic are already incorporating the UN Sustainable Development Goals into their development strategies and highlighting a set of priority goals. Are the companies that are implementing projects in the AZRF prepared for the energy transition? What resources should be used to develop green energy and what factors are hindering the development of green projects in the AZRF? What projects in the AZRF are capable of changing the energy market over the next three to five years and becoming a component of the region’s carbon neutrality programme? What drivers will help accelerate the development and use of technologies, including ones that aim to reduce harmful emissions from APG flaring, for projects in the Arctic? How can we create a unified Arctic green industry cluster? What effective practices and technology partnerships are available in the era of energy transition, and how can experience smoothly be exchanged with international green energy companies?Roll up
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The Arctic is a space of discoveries and achievements, and the site of Russia’s latest victories. The Arctic territory is where all the most pressing current issues are intertwined: geopolitical interests and climate change, the development of the domestic economy and the integration of global markets, and the development of advanced technologies and environmental protection. Geology and subsoil use play a key role in the advanced development of the Arctic expanses, given their responsibility for developing the strategic reserves of the mineral resource base. What prospects are there for developing mineral resource centres that have already been established in the Arctic, such as on the Kola Peninsula, Yamal, and Taimyr, and for the production of gas, phosphates, copper, nickel, platinoids, and rare metals? What new mineral resource centres are currently taking shape in this region? What is the comparative cost of geological exploration in the Arctic and on the Arctic shelf, and is it justified to explore these areas? Are there any government support mechanisms for companies, and what else can be done to raise investment for Arctic greenfield projects? What measures could be taken to implement existing and create new international projects in the Russian Arctic? In terms of import substitution, have we developed new proprietary technologies for geological exploration on the Arctic shelf over the past five years? What is the forecast regarding the resource potential that is expected from public and private exploration in the Arctic? Can we expect new discoveries, including strategic mineral deposits?Roll up
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The digitalization of management processes and the socioeconomic development of the Arctic region, as well as the solution to numerous practical problems in various areas, involves the use of up-to-date spatial data. At the international level, the relevant UN committee determines the role of digital geospatial information. This is the most important information resource with proven value for socioeconomic development and environmental protection, which allows for the integration of government systems and services, as well as national development initiatives. Sectors in need of geospatial data and services include land and water management, agriculture and forestry, and transport infrastructure development, among others. The Russian government has included the creation of the National Spatial Data System (NSDS), which will become a key tool for spatial development, in its list of socioeconomic development initiatives for the period until 2030. Digital services will be created for citizens, businesses, and the authorities based on the NSDS. International cooperation and joint projects to increase the availability of spatial data to improve the quality of monitoring and decision-making are of particular importance for the Arctic region. Since 2009, the mapping services of Arctic Council member countries have been implementing the project ‘Spatial Data Infrastructure of the Arctic Region’. As part of this project, a geoportal based on international standards was created to provide access to a single electronic cartographic basis for the Arctic region, as well as thematic data and services provided by the Arctic Council and other interested organizations. What experience has been gained from creating spatial data infrastructure and geospatial services, and how can we increase the benefits of using spatial data infrastructure to develop the Arctic region?Roll up
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One effective method for shaping a local identity, increasing competitiveness, and creating a favourable image of the regions is to develop creative industries. Design, cinema, music, architecture, gastronomy, and new media are becoming points of economic growth. Creative industries based on a region’s symbolic capital (historical and cultural traditions, ethno-cultural diversity, and heritage) are an important marker of territorial uniqueness. They shape a recognizable image of a region or a country as a whole and create the basis for international cooperation. Creative entrepreneurship helps to form an attractive investment climate, promotes positive dynamics in the social sector, and also opens up great opportunities for alternative employment, including for women, youth, and people with disabilities. What conditions and infrastructure are needed to develop creative industries in the northern territories? Can local culture and heritage contribute to the creation of unique competitive products and promote the lifestyle of northern peoples? How do creative industries change the wellbeing of a person living in the north? What role does the development of creative industries play in the competitiveness of northern territories?Roll up