The meeting of the Commission on the investment policy of Smolensk region Administration

The Deputy Governor Igor Skobelev chaired the meeting of the Commission on the investment policy of Smolensk region Administration.

The meeting considered the investment projects of the regional companies which applied for receiving the status of the approved investment project of Smolensk region and the state support in the form of tax benefits starting from January 1, 2014. Thus regional authorities are implementing the support scheme for producers stimulating their interest in their production capacity development.

Opening the meeting, Igor Skobelev said: "We did our best to make tax incentives stimulate investments in the real economy sector". The Vice-Governor noted that this year the Scientific-Industrial Union and the Smolensk Chamber of Commerce and Industry approved providing the investment support in the form of tax benefits on the two basic regional taxes - the profit tax and the business property tax. Small and medium-sized businesses may qualify for receiving the support, implementing projects worth at least 50 million rubles, the projects of big businesses should "weigh" at least 100 million rubles. Depending on the volume of investments the projects can be supported for the term of up to five years.

The projects of FSUE "Smolensk Production Unit "Analitpribor", LLC "EGGER DREVPRODUKT GAGARIN", CJSC "Agro-industrial company "Nasha zhitnitsa", CJSC "Vyazma-Brusit", LLC "KROL and K" applied for receiving this prestigious and useful in all respects status.

During the meeting the heads of these companies presented to the Commission their projects and answered professional questions. According to the results of the thorough discussion all the projects received the status of the approved investment project of Smolensk region.