154 billion dollars will be invested in the economy of the Republic of Sakha (Russia) by 2020

The press-conference and presentation of the investment potential of the Republic of Sakha (Yakutia) took place on February 20, 2012 in "RIA News". End Quote

(1888PressRelease) February 22, 2012 - Agency "RIA News" held a press-conference and presentation of the investment potential of the Republic of Sakha (Yakutia) on February 20, 2012.

The following leaders were present at the meeting: first deputy Chairman of the Government of the Republic of Sakha (Yakutia) Alexey Struchkov, minister for federal affairs and external relations of the Republic of Sakha (Yakutia) Valery Maximov, directorThe conference was provided with a report on the implementation of the Scheme of complex development of productive forces, transport and energy of the Republic of Sakha (Yakutia) - "Scheme 2020" - and of promising investment projects

According to the First deputy chairman of the Government of the Republic of Alexey Struchkov, the strategy of development of the region implies the total investments in the economy of the region up to the year 2020 in the amount of 154,8 billion dollars, of which 20 billion dollars - in the fuel-energy complex of the republic. More than 76% of investments are planned for the investors' funds, and infrastructure objects will be constructed at the expense of the budget. Alexey Struchkov also said that from 2007 to 2011 in the economy of Yakutia has been already invested 752 billion rubles, which amounts to one-third of the total planned volume of investments. Gross domestic product of the Republic for 5 years has increased in comparable prices by 19%, index of industrial production - by 20%. Growth of tax revenues from the large enterprises for this period is 10 billion rubles a year.

By 2020, as a result of the implementation of the "Schemes 2020", the government of the Republic assumes increase the gross regional product more than in 3 times, that will allow to increase population income in 3, 8 times.

Alexey Struchkov said that this year the economy of Yakutia has achieved one of the best indicators for the last ten years. So the volume of the gross regional product amounted to 411 billion and has increased in comparison with 2010 at 6%, the volume of industrial production in 2011 compared with the previous year has grown 10%. Capital investments grew by 12.2%. the accumulation share in the gross regional product amounted to 35%, which is the main sign of the growing economy.

As further noted Alexey Struchkov, the distinctive feature of the economy is the establishment of large industrial nodes on the cluster type. In Western Yakutia, where traditionally mined diamonds, the general transport and energy infrastructure is formed a new Yakut centre of oil and gas production of Russia. The first deputy chairman of the Government of the Republic gave special thanks to the activity of the company "Surgutneftegas", in 2011 in Yakutia was produced over 5 million tons of oil, while this year it is planned to produce 7 million tons.

Special attention in the course of the press-conference was given to the South-Yakut cluster, where it forms a large industrial district, based on the extraction and enrichment of coal, iron and uranium ores, as well as chemical production. All this is realized thanks to the investment project "Comprehensive development of South Yakutia", which already has been directed more than 24 billion rubles. At the present moment, according to the general director of the OJSC "Corporation of development of Southern Yakutia" Michael Brook, completed the design of infrastructure facilities, are designed to build objects of industry.

The cluster in North-Eastern Yakutia, according to Alexey Struchkov, will specialize in production and processing of non-ferrous and rare-earth metals. Additionally, in the Central Yakutia will be created by the transport-logistic unit, scientific-and-educational complex, it is planned development of jewellery and chemical production.

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