is the largest economic zone in Russia, and in the world, with a single set of preferences for investment activities.
The carefully planned development strategy, and all the measures aimed at developing and managing the Arctic, are evidence of a modern approach to the region, based on the practical benefits that it offers. With a view to resolving key social and economic problems and promote effective development, a new regime for supporting entrepreneurship, the Arctic Zone of the Russian Federation, has been established in order to support investors throughout the Russian Arctic and create the most attractive business conditions for them.
According to decree of the President of the Russian Federation No. 296 “On the land territories of the Arctic Zone of the Russian Federation”, dated May 2, 2014, as amended and supplemented, administrative entities from 9 regions are included in the Arctic Zone. In accordance with Federal Law No. 193-FZ “On state support for entrepreneurial activity in the Arctic Zone of the Russian Federation”, dated July 13, 2020 the free economic zone of the Russian Arctic consists of the following territories:
Russia began systematically surveying the Arctic spaces and territories in the 16th century, when the shores of the Arctic Ocean were first mapped and the Northern Sea Route was first used. New deposits of gold, copper, nickel, diamonds and apatite are still being found in the AZRF, and the extraction of these minerals is becoming more viable, thanks to a range of state support measures.
This macroregion is of great interest to the global community, because of its oil and gas deposits, in connection with which Russia has, for a number of years, been pursuing a proactive and constructive policy aimed at strengthening multi-format domestic and international cooperation, in relation to mining and the development of mineral resources, and also broader development in the areas of agriculture, logistics, healthcare and tourism. All activities and work are carried out taking into account the need to preserve the economic and cultural traditions of the indigenous peoples, improve the standard of living in the region, and protect its unique ecology.
The activities of residents of ASEZs and the AZRF are carefully regulated, and comprehensive help desk support is provided by the Russian Far East and Arctic Development Corporation jointly with a subsidiary.
As a result of the highly favorable geographical position and the changing climatic conditions the economic potential of the entire region, and the Northern Sea Route, in particular, is increasing steadily. The shortest sea route between the Pacific and Atlantic oceans is also a transport corridor for the transportation of minerals, oil products, food and other essential goods to the peoples of the Far North.
According to the development strategy for the Arctic, the volume of cargo traffic will increase many times over due to the development of oil and gas production projects. Work is also underway to improve infrastructure support to seaports, logistics complexes and transshipment points.