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Yaroslavl Oblast Investment Memorandum

Attracting investment is one of the priorities in the regional development strategy of Yaroslavl Oblast. We offer investors the most favorable conditions for the implementation of investment projects in our region, in accordance with the law, and have state support for our initiatives.

Investment Policy Principles of Yaroslavl oblast:

1. Equal opportunities for Russian and foreign investors.

Yaroslavl Oblast guarantees equal opportunities for all investors, whether domestic or foreign. We focus on the social, economic and ecological effectiveness of the project, as well as the longer term benefits of developing cooperative links.

We welcome companies focusing on the further expansion of business, regardless of which country they represent. We guarantee to all investors equal access to information on our investment strategy and decision making processes.

2. Lower administrative barriers.

We guarantee a comfortable environment for doing business in our region.  Yaroslavl oblast government does its best to facilitate company registration procedures, expedite registration of property, simplify and speed up the procedures of construction permits, the connection of utilities and  other necessary infrastructure.

To reduce administrative barriers and minimize corruption risks, we are developing a "one stop system" and delivery of public services in electronic form.

3. Protection of  Investors’ rights 

The Governor of Yaroslavl Oblast is the guarantor of investors’ rights. Investors are protected against any laws that could affect their position in Yaroslavl Oblast.

4. Development of Infrastructure: training specialists and providing accommodation.

Provision of an infrastructure for training, recruitment and retention of highly qualified specialists is considered as one of the main considerations of the policies for economic development in Yaroslavl Oblast.

We focus on creating a comfortable environment for our residents and visitors inclusing the development of hospitality, entertainment, and sports.

The Yaroslavl Oblast’s particular concern is the overall protection of the unique cultural heritage of Central Russia (“The Golden Ring”), and, at the same time, a respect for multicultural diversity and tolerance of local people towards all cultures and nationalities.

5. State support of the projects in progress.

The region guarantees to every investor:

-         a system of support by executive bodies at all stages of the project,

-         an efficient system to allow fast turnaround  of submitted documentation,

-         the facilitation of negotiations with investment entities, to enable the settlement of any problematic situations,

-         relevant legislation,

-         the provision of information, consulting, and qualified advice.

Additionally, investors will be provided with financial support through, for example:

- favourable rates of taxation,

- subsidies from the Yaroslavl Oblast budget,

- reduced rental payments for the Oblast property used for carrying out of the priority investment projects,

- investment tax loans,

- Oblast government legal guarantees, 

 - support for innovation, R&D and experimental development,

 

 Investors will be provided with the following information:

 - general consulting and advice on legal procedures,

- access to regularly updated databases of the existing and scheduled investment projects in Yaroslavl Oblast as well as vacant brownfield and greenfield sites,

-  new local investment project information via our website, 

 -  contact details of potential business partners, both individual and corporate, in Yaroslavl Oblast.         

 

Aims of the investment policy of Yaroslavl Oblast:

- to create a favorable business environment through the attraction of foreign investment and innovative legislative development, 

- to enable investment infrastructure development involving greenfield and brownfield sites, industrial and business parks and an improved transport infrastructure,

- to provide efficient state support of the investments,

- to facilitate the lifting of administrative barriers, and eradication of corruption,

- to act as the focal point for projects  requiring the cooperation of the Yaroslavl oblast executive authorities and agencies with the Federal Government.

 to provide the fast and efficient delivery of information to both Russian and international institutions of development, foreign public organizations, consultants and investment partners of Yaroslavl Oblast.

 

Governor of Yaroslavl Oblast                  Sergey N. Yastrebov