Through agreements on the protection and promotion of investment, 929 billion rubles entered the economy.
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The planned volume of investments in the economy under agreements on the protection and promotion of capital investments (SPPK) exceeded 3 trillion rubles, 929 billion rubles have already been invested, Kommersant learned. In the context of sanctions and additional tax burden, such agreements make it possible to stabilize the conditions for investment projects. The White House is ready to adjust the generally successful mechanism, taking into account changing conditions and law enforcement practices – the government is now holding consultations on the topic of the SZPK with business and the State Duma.
The SZPK portfolio exceeded 3 trillion rubles, Kommersant was told in the secretariat of First Deputy Prime Minister Andrei Belousov, who oversees this mechanism. The economy has already received 929 billion rubles. A total of 60 agreements have been signed, which will provide 54 thousand jobs (19 thousand have actually already been created by the end of 2022).
Let us recall that the SZPK mechanism was launched as a key tool for increasing investment activity at the end of 2020, then it was suspended for technical reasons and rebooted at the end of 2022 – regions now have the right to give negative opinions on projects, control over investments was tightened by connecting companies to the tax monitoring, capital investment requirements have been increased.
After the reboot, the projects became larger – 27 “new” SZPK were signed for 1.8 trillion rubles, this is 60% of the total investment volume under the agreements. The average size of such a project is 66 billion rubles. versus 36 billion at the first stage. At the end of 2022, five agreements worth 403 billion rubles were signed—at that time, many projects were adjusted due to sanctions. In 2023, companies adapted (22 SZPK for 1.4 trillion rubles), and the instrument acquired a new advantage – the established windfall tax (“voluntary” business contribution) to the budget is not applied to such projects.
The Secretariat of the First Deputy Prime Minister notes that SZPK has become an anti-crisis support measure for many companies. “The stability of tax and customs regulations, land use conditions and urban planning provided the business with the necessary stable conditions for development,” they add. According to VEB.RF (engaged in supporting the processes of concluding the SZPK), the conditions of the regime led to an improvement in the investment performance of projects. For example, the net present value of a project increased by 21% on average, and for individual projects by more than 50%.
According to the head of the relevant department of the Ministry of Economy, Alexander Molodtsov, the demand for SZPK is consistently high. “Investors are adapting to sanctions, finding suppliers from friendly countries or partners and developers in the domestic market. We see a lot of new applications, that is, we are talking about fresh investments,” he says. Now investors are launching import-substituting production and occupying niches vacated after the departure of a number of Western companies (for example, the production of pharmaceutical substances).
Most often, new projects start in the areas of mining (45% of investments), chemical industry (19%), processing (15%), timber processing and transport (7% each). The largest number of agreements are in the Sverdlovsk, Leningrad regions, Moscow, Bashkiria and Tatarstan. In monetary terms – in the Khabarovsk and Trans-Baikal Territories (by 301.7 billion rubles and 234 billion rubles). Most of the projects are still in the investment stage, but eight have already moved into operational stage (for 48.8 billion rubles) – this means that investors will soon be able to compensate for capital costs (in the form of a tax deduction or reimbursement of expenses). According to regional SZPK, only four projects worth 12.4 billion rubles have been concluded so far – investors in large projects prefer the stability of federal legislation, the Ministry of Economy explains.
Surveys by the Russian Union of Industrialists and Entrepreneurs show that the SZPK is one of the most popular business tools. “At the same time, the law on SZPK needs to be adjusted, including in terms of the procedure and procedures for changing concluded agreements in connection with the occurrence of force majeure circumstances,” says Kommersant’s interlocutor at the RSPP. He adds that work continues with the Ministry of Economy to finalize the law on the SZPK, including such areas as determining the novelty of the project and the procedure for conducting an examination.
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