Invest in production
The Republic of Karelia is one of the largest industrial centers in the North-West of Russia. The basis of the republic's economy is industry, which accounts for almost 40% of the total volume of the gross regional product.
The Republic of Karelia is a unique border region of the North-West of Russia
Favorable economic and geographic location, convenient logistics infrastructure, natural resources, educational and human potential make our region attractive for investors.
One of the priority tasks of the Government of Karelia is the creation of a favorable investment climate. For this, a set of measures for financial, property and administrative support has been developed. In assistance to investors, territories of advanced social and economic development are being created. Thanks to the individual program for the development of the region, federal funds are directed to including for the implementation of investment projects.
40% of the territory of Karelia - 6 municipal districts - are included in the Arctic zone. This significantly expands the possibilities of both the economy and social sphere, and organizations and entrepreneurs who implement projects in these territories.
We are ready to provide comprehensive assistance in the implementation of investments in our republic. We will be glad to establish cooperation with everyone who associates their strategic priorities with Karelia and shares the idea of partnership in interests of joint development.
Karelia occupies an advantageous geopolitical position between other economically developed regions of Russia and Europe
Neighbors of Karelia:
- Leningrad region
- Murmansk region
- Vologda region
- Arkhangelsk region
Distance from the capital of Karelia to big cities:
- Joensuu - 360 km
- Saint Petersburg - 430 km
- Helsinki - 700 km
- Murmansk - 930 km
- Moscow - 1000 km
Important transport routes pass through the republic, which connect the regions of Russia with the ice-free northern port of Murmansk and European countries. On its territory, there is the White Sea-Baltic Canal, which connects the Baltic and White seas.
There are eight checkpoints on the border with Finland in the region. Among them there are 5 automobile roads: Vyartsilya checkpoint, Lutta checkpoint, Suoperä checkpoint, Inari DAPP, Syuväoro DAPP, 2 railway lines: Lyutta, Vartsilä and air - Petrozavodsk, there are 3 airports, 5 ports connected by a system of canals with the main water routes of the European part of Russia.
Benefits of doing business in Karelia
Developed transport links and the favorable geopolitical position of the republic make business on its territory attractive for investment. This is facilitated by special tax and administrative benefits.
- preferential conditions for the receipt, use and redemption of land plots for the implementation of investment projects;
- provision of tax incentives for the implementation of investment projects;
- compensation for part of the costs incurred by investors in the implementation of projects;
- assistance in attracting financing on concessional terms.
Development Corporation of the Republic of Karelia accompanies investment projects on the principle of "one window" and implements the following functions:
- The My Business center is a unified regulatory body for organizations which forms the Support infrastructure
- A regional management company develops the Arctic projects on the territory of the Republic of Karelia.
- Support of international projects: the partner in cross-border cooperation programs
- Сooperation with RUSNANO – the Center for Regulatory and Technical Support
- Fair activity
One third of the territory of the Republic of Karelia is part of the Arctic zone of Russia. These are Belomorsky, Loukhsky, Kemsky, Segezhsky and Kalevala districts and Kostomuksha urban district.
Tax deduction not exceeding 50% of MET. Valid until December 31, 2032.
1% for "income" or 5% for "income - expenses"
Inspections of residents of the Arctic zone are carried out only by agreement of the Russian Ministry for the Development of the Russian Far East and within a short period.
Priority Industries for Investment
- TourismDue to the unique nature, Karelia is included in the top five popular travel destinations for Russian tourists
- IT - Data CentersLocation of data centers in the Arctic zone allows you to reduce the cost of cooling data center equipment
- Timber industry complexPrivate investments in increasing production volumes while preserving nature will amount to > 110 billion rubles in the next 5 years
- Mining complexShare of HPC is more than a third of the total volume of industrial production, the demand for the products of this industry is growing every year
- Mechanical engineeringUnique products of the Karelian enterprises of the machine-building industry are known in Russia and in foreign countries
- Food productionIndustrial production is growing steadily thanks to a wide range of federal and regional support measures
- Fishery complexA large amount of clean deep-water reservoirs and the development of industrial infrastructure create favorable conditions for fish farming as well as make Karelia the leader in commercial trout production in Russia
- Agro-industrial complexThe development of agriculture is supported at the federal and regional levels, and dairy and meat farming is considered the most promising direction
Strategy of economic development of Karelia until 2030
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