Author: Timur Utsayev, Grozny. Exclusive to VK
In 2011 the Chechen authorities managed to decide on allocation of funds for realization of investment projects under state guarantee. The government of the Chechen Republic has presented a list of 12 investment projects, amounting to 43,797.05 million roubles in total, in Minregion. Seven of these projects were considered to be top priority. Their cost amounts to 22,790.84 million roubles, 11,438.94 million of which are guaranteed by the state. According to the head of the Ministry of Economic Development of the Chechen Republic, Abdula Magomadov, as a result of sessions of the inter-departmental investment commission of the Ministry of regional development, three investment projects meeting the established requirements were selected. «On project is the construction of the all-season ski resort "Veduchi", costing 14,500 million roubles. 7140 million roubles are guaranteed by the state. The second is a project of the public limited company "Chechenagroholding", providing for the planting of perennial seedlings, in particular vineyards, in accordance with intensive technologies on 500 hectares. The project costs 1867.14 million roubles. The sum of state guarantees is 914.9 million roubles. The third project is construction of a sport and tourist complex in "Kezenoj-Am". It costs 3750 million roubles. The state guarantees 1820.14 million roubles» Magomadov said.
As a result of the 10th International investment forum "Sochi-2011", the government of the Chechen Republic has signed an agreement "on realization of the innovative building tech park "Kazbek" in the Chechen Republic with the Foreign Trade and Investment Bank, the public limited company "Corporation of Development of the North Caucasus", the limited liability company industrial-business firm"Kazbek" and the Joint-Stock Company "Inter-regional Industrial-resource Corporation Grasse". The project is to be realized within two years. Its total cost is 4.9 billion roubles. The volume of credit resources of the Foreign Trade and Investment Bank amounts to 4.4 billion roubles of the sum. The tech park is expected to become the second most profitable object after the oil-refining factory being constructed in Grozny. The project is included on the list of promising programs, aimed at realization of the Strategy of Socio-Economic Development of the North Caucasus Federal district by 2025.
At the International investment forum the Chechen Republic presented 67 investment projects. Some of them provided for building of modern hi-tech manufactures. Other priority projects provided for construction of the first part of the cascade of hydroelectric power stations on the Argun river, development of production of cars and automobile components, construction of cannery in Grozny and projects in tourist and recreational sphere. The total amount of the investments necessary for their realization has constituted 160 billion roubles.
In 2011 delegations of different business communities which got acquainted with investment platforms of the Chechen Republic came to Grozny. In early 2011 businessmen from the United Arab Emirates became interested in investments in the economy of the region. The delegation from the United Arab Emirates was impressed by transformations in the Chechen Republic. General director of company ADS Holding, Mahumud Ebehim Mahmud Mohammed al-Mahmud, has declared that firstly investments will be made in the sphere of real estate and secondly in the agricultural sector. The mayor of Grozny explained that agreements were reached on construction of a residential cluster on 45 hectares in the Old Promyslovsky area of Grozny. To put it more explicitly, the project provides for construction of 2-3-storey cottage-type houses with overall living space constituting over 100 thousand square metres.
In mid-2011 a delegation of Turkish investors headed by the chairman of Board of directors of the holding "Eroglu", Nurettin Eroglu, visited the Chechen Republic. The firm, better known in Russia as Collins, specialises in textiles. It is considered the largest textile enterprise of Turkey and one of the five largest firms of the country. The construction of a textile mill, hosting 10 thousand jobs in the Chechen Republic, is among their imminent plans.
In August representatives of the state investment corporation of China «Gou Tu Gusy», as well as owners of large factories and enterprises of the People’s Republic of China, made a business proposal to the management of the Chechen republic. «The program «Silk Road» is currently being implemented in the People’s Republic of China. It is planned to accelerate delivery of cargoes from Western China to Western Europe and back by land transport (both automobile and rail). The territories of Kazakhstan and the Russian Federation have become the longest part of this route. We suggest opening a international trade and logistical terminal in Grozny. It will play the role of a wholesale and retail storage terminal in the North Caucasus, processing, selling and delivering cargoes to the nearby regions of Russia and Transcaucasia,» the head of the Chinese delegation Shou Pan said.
In the autumn representatives of the Azerbaijani business community and organizations specifying favorable platforms for investments visited the Chechen Republic. As chief negotiator, the minister of economic development of Azerbaijan, Shakhin Mustafaev, has declared that the Azerbaijani businessmen are ready to consider investment projects and build social and economic relations with the Chechen republic. Chechen businessmen will go to Azerbaijan on a return visit. As Mustafaev noted, it is likely to influence the realization of the Azerbaijan and Chechen investment projects fruitfully.
Meanwhile, the parliament of the Chechen Republic has approved amendments to the republican law "On investments and guarantees to investors in the Chechen Republic" concerning thedelay of tax privileges for investors. The document fixes the dates of implementation of the tax privileges for investors, carrying out investment activity in the territory of theChechen Republic in priority branches of economy. "Adoption and realization of the law will bring about delay in granting tax privileges to the investors realizing investment projects in the priority branches of economy, until the investment project reaches full power. This will keep the revenue receipts in the republican budget from the profit tax at a rate of 4 %," the chairman of the Committee for economic and investment policy and property relations of the Parliament of the Chechen Republic, Hussein Kadyrov, explained.
