In the new issue of the investment events digest, the Murmansk Region Development Corporation presents the main news, the results of federal ratings and expert opinions for 2024, which had a positive impact on the investment climate of the Murmansk Region. The full version of the review is published on the Investment Portal of the Murmansk region.
Over the past five years, the Murmansk Region has demonstrated significant economic growth. GRP increased 2.5 times, and the volume of investments amounted to 1.2 trillion rubles. By the beginning of 2025, this had affected the Murmansk Region's position in a number of economic ratings. According to the Civil Society Foundation, the Arctic Region has become the seventh in terms of socio-economic sustainability in Russia.
In addition, by the beginning of 2025, the number of residents of the Arctic zone in the Murmansk Region reached 294 projects. In the last few months alone, about 20 projects have been implemented in the region in Murmansk, Monchegorsk, Kirovsk, Apatity, Kandalaksha, and Pechenga and Kola districts. The largest of which is the creation of the Harmony of the North residential district in Monchegorsk with an investment volume of about 14 billion rubles. The investor plans to build nine lines of residential buildings, commercial premises, a school and a kindergarten.
In general, the Murmansk Region begins 2025 as an attractive region for investors. The suitable conditions are due to the eventful investment events of 2024. During this time, the Kola Arctic has regularly attracted attention at the federal level, according to the Development Corporation.
One of the main decisions that will give impetus to the economic development of the Murmansk Region and the entire Russian Arctic for years to come was the instruction of the President of the Russian Federation Vladimir Putin to develop master plans for the Arctic territories. This initiative was previously made by the Governor of the Murmansk region, Andrey Chibis. Throughout the year, they were worked out with each region, and about 500 experts were involved in the Murmansk Region alone. In total, 16 agglomerations were included in the master plans.
Also at the end of the year, a meeting of the Russian Maritime Board was held with the participation of the head of the region, at which a fundamentally important decision was made to form a comprehensive project "Development of the Arctic zone of the Russian Federation and the Northern Sea Route."
"In our opinion, the project "Development of the Arctic zone of the Russian Federation and the Northern Sea Route" can receive the status of a national project. We will continue to work on this together," Governor Andrey Chibis commented on the decision following a meeting in December 2024.
In addition, work on gasification of the region continued last year with the support of the President. This is another historically important decision that has been achieved and put into practice thanks to the Governor's initiative.
At the regional level, in 2024, the updated Murmansk Region plan "To live in the North" was approved, including a strategy for the development of investment projects in the region.
"In addition, the new review of the Development Corporation highlights significant company news for 2024. In general, there is a tendency that even despite the pressure on the Russian economy, a number of key enterprises are developing investments in the territories of their presence, and new investment projects are being developed," said Artem Kuksa, General Director of the Murmansk Region Development Corporation.
All issues of the Investment Digest of the Murmansk region, as well as information on available business support measures and free investment platforms, can be found on the regional website The investment portal.
/ Murmansk Region Development Corporation /