Governor's Report: Murmansk Region's economy grew by 20%

Governors Report: Murmansk Regions economy grew by 20%

A number of support measures are being implemented in the Murmansk Region to stabilize the economy, which have yielded results.  Economic growth in 4 years amounted to almost 120% (1.2 times), in Russia – 102.9%. This was announced by the Governor of the Murmansk region Andrey Chibis as part of a report to the Murmansk Regional Duma. 


"The steady growth of the economy of the Murmansk region is due to an increase in investment and export potential, the development of human capital, the growth of real incomes of the population, the preservation of business activity of organizations in the region. The economy of the Murmansk region has shown high resistance to epidemiological shocks, as well as rapid adaptation to new economic realities. The growth rate of investments in fixed assets for 4 years was 116%, and the region came in 2nd place in terms of growth in the North-Western Federal District. At the same time, almost 893 billion rubles of investments have been invested in the development of the region over 4 years," the governor noted. 


The Murmansk Region is the leader in attracting investments among all regions of the Arctic zone of the Russian Federation. In addition, the only Arctic TOP "Capital of the Arctic" was created in the Murmansk region in record time in 2020. As a result, there are currently more than 200 residents in the region under these two regimes with a total investment of about 317 billion rubles, which will ensure the creation of more than 11.8 thousand new jobs. Among them, the anchor project is the world's first plant for the serial production of natural gas liquefaction lines by NOVATEK-Murmansk LLC, which is necessary for the implementation of the Arctic LNG-2 project, more than 80 thousand jobs have been created in the complex on related projects during the construction and production of technological lines and hundreds of Russian enterprises are involved, about 20 thousand. jobs have been created directly in the Murmansk region. Some of the high-tech equipment was created specifically for the project and has no analogues in the country. Also in 2022, the status of a resident of the TOP "Capital of the Arctic" was received by LLC "Sea Trading Port "Lavna" with a project for the construction of a new coal terminal on the western shore of the Kola Bay. It is planned that the first cargo will go in 2023, and after 2024 the capacity will be more than 18 million tons per year.

Within the framework of the project implemented by the AZRF resident (Nord Star LLC) for the technical re-equipment of the Vitino seaport and the Belomorskaya oil depot, 998 million rubles have already been invested, 70 jobs have been created. The facilities are ready for commissioning, documentation is being issued for obtaining a license to work with dangerous goods. To implement this project, the Government of the Russian Federation, on the initiative of the Government of the Murmansk Region, decided to organize border, customs and other types of control over Russian and foreign vessels within the boundaries of the Vitino seaport in the Murmansk Region.


"Gasification of the region remains the most important project. In 2022, the decision to gasify the Murmansk Region with mainline natural gas was supported by the President of the Russian Federation Vladimir Putin. In April, during a working meeting with Vitaly Anatolyevich Markelov, Deputy Chairman of the Gazprom Management Board, key issues related to joint work on the implementation of the Volkhov- Murmansk Main Gas Pipeline investment project were considered. Subject to the gasification of the region, a number of enterprises have announced the possibility of implementing new investment projects. To date, Gazprom PJSC has started designing the main gas pipeline," Andrey Chibis stressed. 

The governor also recalled that at a bilateral meeting  The President of the Russian Federation Vladimir Putin supported the project of construction of an Integrated development of the Murmansk transport hub, taking into account the logistics capabilities of the port of Murmansk. The Government of the Russian Federation has allocated 37.7 billion rubles for this. Thanks to the implementation of this large-scale project, the volume of cargo transportation along the NSR will increase to 80 million tons per year by 2030.

Projects are being implemented to develop the most promising Russian lithium ore deposits in the Murmansk Region, which will become significant for the whole country and an important link in ensuring the technological sovereignty of the Russian Federation.

As part of the development of the ship repair industry, the Government of the Russian Federation has approved amendments to the Tax Code providing for the establishment of a VAT rate of 0% for organizations performing maintenance and repair of ships. The benefit will be available to those enterprises that will direct at least 20% of revenue for their own development over seven years. The introduction of a zero VAT rate for repairs for all enterprises of the ship repair industry will allow them to increase their competitiveness and establish an optimal price-quality ratio for ship repair and thereby increase the volume of work due to the "return of repairs from abroad."

In addition, according to the results of 2021 and 2022, the Murmansk Region retains leadership in the rating of sustainable development of the Arctic.


/ Ministry of Arctic Development and Economy of the Murmansk Region /