More and More Murmansk Companies Become Arctic Zone Residents

Three more companies from the Murmansk region will receive the status of a resident of the Arctic Zone of the Russian Federation (AZRF), according to the Governor of the Murmansk region Andrey Chibis. 

“Three more applications from companies in the Murmansk region have been approved for obtaining the status of a resident of the Arctic zone. These are a project to create a terminal for warehousing and storage of goods (more than 60 thousand tonnes per year), a project in the field of tourism to open a network of mini-hotels in the Kandalaksha region, and construction project in the Pechenga region of a plant for the production of abrasive materials. These are the first three residents approved in the new year in the Arctic zone,” Chibis said.

Chibis also recalled that in 2020, the leadership of the Murmansk region in the Arctic zone was already recorded in terms of attracting investments (39 per cent). It is noted that companies-residents of the Russian Arctic receive a package of preferences for doing business in the Arctic zone, such as significant benefits on basic taxes, subsidized insurance premiums for new jobs, the provision of land without bidding, as well as the free customs zone procedure and others.

Ru-Main, 18.01.2021 

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