The standard was developed by the Agency for Strategic Initiatives to Promote New Projects in cooperation with the All-Russian public organization "Business Russia" and is an initiative aimed at creating an enabling environment for increasing investment flows into regions through the implementation of the best Russian and international practices of interaction between regional authorities and entrepreneurs.
The standard includes 15 best investment practices that are used by the most economically successful regions:
The Investment Declaration of the Nizhny Novgorod Region was developed to create a favorable investment climate in the Nizhny Novgorod Region, implement investment projects on the territory of the Nizhny Novgorod Region, and provide them with state support aimed at reducing administrative barriers to investment activities.
- equality – non-discriminatory approach to all subjects of business and investment activities within a pre-defined and public system of priorities;
- involvement – participation of business and investment entities in the process of preparing decisions affecting their interests, adopted by the executive authorities of the Nizhny Novgorod Region, as well as in the assessment of the implementation of these decisions;
- transparency – public availability of documented information of the executive authorities of the Nizhny Novgorod Region (except for information of limited access);
- best practices – orientation of administrative procedures and regulatory procedures to the best practice of interaction between the subjects of the Russian Federation and the subjects of business and investment activities.
In 2018, the region adopted the Strategy for Socio-Economic Development of the Nizhny Novgorod Region until 2035 developed with the participation of a community of 400 experts at the regional and federal levels and more than 500,000 residents of the region.
The Development Strategy is a strategic planning document that defines the long-term priorities, goals and objectives of region’s administration. The investment strategy block is incorporated into the general Development Strategy of the Nizhny Novgorod Region until 2035.
Highly efficient institutional space, attractive for large-scale projects and investments and free for extensive development of the private entrepreneurial initiative.
The Nizhny Novgorod Region is one of the leading regions that reform their control and supervisory activities with a goal, inter alia, to reduce the administrative burden on businesses:
Figures and facts:
Links to useful online resources:
Development and Investment Strategy Council of the Nizhny Novgorod Region
The Development and Investment Strategy Council under the Nizhny Novgorod Region Governor was established in July 2018 in compliance with the Decree of the Nizhny Novgorod Region Government No. 490 of August 4, 2018.
The Council is a permanent collegial advisory body created to coordinate the actions of the executive authorities of the Nizhny Novgorod Region, territorial bodies of federal executive authorities and other organizations, regardless of their organizational and legal form, in order to develop and implement the Social and Economic Development Strategy of the Nizhny Novgorod Region until 2035, the creation of a favorable investment climate in the Nizhny Novgorod Region.
Target models of simplifying business procedures and increasing the investment attractiveness of constituent entities of the Russian Federation
The Nizhny Novgorod Region has implemented an integrated system to systematically improve the region’s investment climate. Analysis of the investment climate in Russia showed the need for new approaches to creating conditions for attracting investments and the new quality of work of regional management teams.
The target model is:
- a set of factors to ensure a favorable investment climate
- 12 directions, for each of which a target value and indicators for assessing its achievement are determined
In order to achieve the values of the target models in the Nizhny Novgorod Region, the region’s specialized state structures have developed “road maps”, identified indicators for the development of the relevant sphere and appointed responsible persons.
Best practices of social and economic development of the Agency of Strategic Initiatives
Procedure for receiving regional applications
Applications for participation in the regional contest are sent by official letter to the Ministry of Economic Development and Investment of the Nizhny Novgorod Region in hard or electronic form.
The contact person for the organization of the contest is Mikhail Blyudov, Head of the Investment Standard and Target Models Implementation Sector
+7 (831) email@example.com
Nominations of the contest (correspond to national projects):
Contest results are traditionally announced at the Russian Investment Forum, where the awarding ceremony of the practice initiators and heads of entities is held.
The best development practices of constituent entities of the Russian Federation are availiable on the platform “Smarteka”.
National rating of the investment climate in constituent entities of the Russian Federation
Purposes of the rating:
The national rating of the investment climate assesses the efforts of regional authorities to create favorable business conditions and identifies best practices, and its results stimulate competition in the struggle for investment at the regional level.
The organisational headquaters has been created in the Nizhny Novgorod Region to implement the best practices of the national rating. The list of indicators for assessing the state of the investment climate has been approved.
Annual presentation of the results of the National Rating of the Investment Climate in Constituent Entities of the Russian Federation takes place at the St. Petersburg International Economic Forum. In 2021, according to the rating results, the Nizhny Novgorod Region took 6th position among the regions of the Russian Federation.