The 500th resident of the Russian Arctic will build a hotel and tourist complex in the Murmansk region

The 500th resident of the Russian Arctic will build a hotel and tourist complex in the Murmansk region

A new investor in the Murmansk Region, the Aurora Company, which has become the 500th resident of the Russian Arctic, plans to build a year-round hotel and tourist complex. The Far East and Arctic Development Corporation signed an agreement on investment activities with Aurora as part of the business program of the Arctic Investor Day in Monchegorsk. The new investor is implementing a tourist project worth 15 million rubles on the shore of the Kandalaksha Bay in the Murmansk region. The complex will include 5 guest modular comfortable double houses with recreation areas, picnic terraces and a sauna. Paths will also be laid on the territory, which form a common walking route. The complex, designed to receive up to 3,000 guests per year, will be located near the Kandalaksha Bay on the White Sea coast.  The launch of the new tourist facility is planned for 2025.

"According to the results of two years of work of the prefreme of the Arctic zone of the Russian Federation in the Murmansk region, entrepreneurs have actually invested more than 16 billion rubles in the region's economy. Our region is actively taking advantage of the opportunities provided by the Arctic benefits package. It is no coincidence that 172 residents are already implementing projects here," said Tatiana Russkova, Minister of Arctic Development and Economy of the Murmansk Region.

According to the KRDV, at the moment 500 companies have concluded legally binding agreements on investment activities in the Arctic zone of the Russian Federation. Residents actually invested 45.7 billion rubles in projects and created more than 4 thousand jobs.

"When announcing new investment projects for implementation, entrepreneurs actively use the opportunity to reset a number of taxes. This includes zero taxes on property, land and profits for a period of 5 years, subsidizing 75% of the volume of insurance premiums for newly created jobs for 10 years, and also provides for the possibility of obtaining land and applying the procedure of a free customs zone. We provide business assistance and administrative support. State support measures allow residents of the Russian Arctic to implement projects faster, make a profit, create new infrastructure for residents of Arctic cities and points of attraction for tourists," said Vladimir Gudkov, Director of the Department of Support for the implementation of investment projects of the Russian Arctic KRDV.

In addition to the traditional signing of the KRDV agreements with new residents of the Russian Arctic, the Arctic Investor Day for the first time hosted a solemn ceremony of awarding the Arctic Investor badge to representatives of companies that have already successfully implemented and launched investment projects with the help of Arctic benefits. The Government of the Murmansk Region has been holding the Arctic Investor Day since 2020, when the largest free economic zone in the world was created in the Arctic. The event brings together government representatives, regional and federal development institutions, potential and current residents. Representatives of the Arctic regions in the teleconference mode spoke about the results of the preferential regime for two years. Murmansk, Arkhangelsk Regions, as well as the Republic of Karelia and the Nenets Autonomous Okrug shared the success of attracting residents. The event was attended by heads of companies and representatives of business associations from Moscow, Kaluga, Samara, Yaroslavl and Sverdlovsk regions, who are interested in the Arctic as a region for business development. The Murmansk Region Development Corporation presented investment opportunities and promising projects of the Arctic region to the guests: projects for the creation of modern hotels based on the Shakhter and Spolokhi hotels in Murmansk and Kandalaksha, as well as a water park project in the capital of the Murmansk Region. Representatives of the Monchegorsk Development Agency spoke about projects to create a plant for the production of feed for aquaculture, an apartment hotel and an ambitious tourist complex "Viking Port".

"The exchange of competencies in the current conditions is very important. The Kaluga Region is interested in the north as a tourist region and a region for work. There is a young active team with a practical approach to interacting with investors. I think we'll borrow it. It is also interesting that in the Murmansk Region they work a lot not only with large industrial enterprises, but also with small businesses," said Kirill Gusev, Chairman of the Management Board of the Association "Cluster of Socio–Technological Development of Territories of the Kaluga Region".

At the end of the business part of the program, the participants of the Arctic Investor Day visited the site of the future Viking Port project and the site of one of their residents operating in Monchegorsk. More detailed information on the Russian Arctic is available on the Arctic-Russia website.

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