The regional Council on Economy and Investment

The Council on Economy and Investment under the Administration of the Smolensk region has been created in compliance with the resolution of the regional Administration signed by Governor Alexey Ostrovskiy.

Its main tasks will be:

- developing proposals promoting the positive trends in the regional economy;

- developing recommendations in the field of economic, financial and tax policies of the region;

- developing recommendations on improving the investment climate in the Smolensk region;

- expert and analytical support of the Administration of the Smolensk region and executive authorities of the region on issues of economic development and creating a favorable investment climate.

According to these tasks the Council will carry out a number of functions, including considering the issues of effective implementation of the tax policy, advising on creating a list of investment facilities and the necessary transport, social, energy and other infrastructure facilities in our region to meet the needs of investment projects. Also the Council will develop proposals to address the problems of providing investment sites of engineering infrastructure, considering the results of the investment projects.

A separate function of the new Council is to develop recommendations on reducing administrative barriers, including shortening and simplifying the procedures of issuing permits.

The Council is an advisory body. Its composition is approved by order of Administration of the Smolensk region. The Chairman and Vice Chairman of the Council, the Secretary and other members of the Council take part in its work on a voluntary basis. The preparation of the Council meetings, including organization and technical support is performed by the Department of Economic Development of the Smolensk region.