arctic_blog

Russian arctic is a territory of development

The Arctic  territories that are rich in natural resources have recently become an  important place of international development and geopolitical interests.  In the foreseeable future “all across the Arctic, changes in climate  will create new vulnerabilities for infrastructure and present new  design challenges.

So, the development in the Arctic is  heavily troubled by political and legal risks. In addition, “the intense  cold for much of the year, long periods of near-total darkness, the  potential ice-pack damage to offshore facilities, the marshy tundra  dictating seasonal activity in many areas and the limited biological  activity all will take a huge toll on equipment and personnel.

Russia will adopt this year a new  strategy for the development of the Russian Arctic until 2035, Russian  President Vladimir Putin said.

This year Russian government is going to  draft and adopt a new strategy for the development of the Russian  Arctic up to 2035. It is to combine measures stipulated in our national  projects and state programs, the investment plans of infrastructure  companies and programs for developing Arctic regions and cities.

It was also underlined that the  government will pay special attention to the development of the  transport and other infrastructure, which paves the way for future  investments and business initiatives.
In particular, it was noted  that Russia will keep developing the global transport corridor,  including the Northern Sea Route, a shipping route running along the  Russian Arctic coast.

According to Putin's address to the  Russian Federal Assembly, Russia is expected to significantly increase  the volume of freight traffic along the Northern Sea Route to 80 million  tons a year by 2025.
Considering the Arctic's peculiarities, Russia  will provide investors with "more advanced and more stable  preferences", according to the Russian president.

Putin said he had instructed the  government, experts and business representatives to draft a special  federal law on a special system of preferences for investors in the  Arctic zone as soon as possible for the State Duma, Russia's lower  parliament house, to approve at its autumn session.

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