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:

In accordance with the Investment Declaration of the Nizhny Novgorod Region and the current legislation of the Russian Federation, the Nizhny Novgorod Region guarantees the protection of investments, as well as the rights and interests of business and investment entities.

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.

Strategic goal:

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:

• Introduction of a risk-based approach to the activities of regulatory authorities and the development of crime prevention

• Improvement of the municipal control system

• Close cooperation with the business ombudsman and business associations - CCI, NAPP, Business Russia, OPORA Russia

• Forms of joint work – a working group for improving control and supervisory activities, expert assessment of the implementation of the target model of control and supervisory activities, focus groups, meetings, public discussions and exchange of views

Innovations:

• Business self-inspection service

• Extension of the list of violations for which warnings are given instead of fines

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.

Documents:

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) 439-07-87istand@minec.kreml.nnov.ru

Nominations of the contest (correspond to national projects):

• Construction and Housing and Utility Services

• Urban Development and Infrastructure

• Environment and Nature Protection

• Tourism and Culture

• Business Support and Export Development

• Science and Education

• Digital Development

• Social welfare

Contest results:

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 can be found in the Library of Smart Solutions “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.

Rating results:

In 2019, the presentation of the results of the National Rating of the Investment Climate in Constituent Entities of the Russian Federation was held on June 7 at the St. Petersburg International Economic Forum.

The Nizhny Novgorod Region has created the organizational headquarters to introduce the best practices identified by the national rating.

The list of indicators for assessing the investment climate has been approved.

Documents: