Main Page  > About Smolensk region  > Investment Declaration of the Smolensk Region
Investment Declaration of the Smolensk Region
1. All legal relations arising from investment projects in the Smolensk Region are subject to the federal and regional laws.

2. Public authorities of the Smolensk Region cooperate with entrepreneurs and investors on the following principles:

equality - non-discriminating approach and respect to all entrepreneurs and/or investors in accordance with clearly defined and proclaimed priorities;

involvement - entrepreneurs and/or investors along with the public authorities are involved in the decision-making process and assessment of their implementation;

transparency – free access to any documents of the public authorities (except for confidential information);

benchmarking – practicing the most efficient interaction techniques between the public authorities of the Russian regions and entrepreneurs and/or investors, that would be most beneficial for business representatives.

3. In full compliance with the federal and regional laws and regulations the Governor of the Smolensk Region ensures due protection of all investments as well as rights and interests of  entrepreneurs and/or investors. Thus, there are the following guarantees:

- equal treatment of all entrepreneurs and/or investors;
- involvement of entrepreneurs and/or investors along with the public authorities both in the decision-making process and  the assessment of these decisions implementation;
- free access to any public information of the regional executive authorities;
- absence of restrictions for the launch and implementation of investment projects within the frameworks of the federal and regional legislation;
- safety and security of any entrepreneurship and/or investment activity in the Smolensk Region;
- protection of capital investments according to the federal and regional laws;
- protection of investors’ rights in accordance with the federal and regional laws;
- laisser faire, i.e. no interference on the part of the regional public authorities with the process of contract conclusion, partner selection or definition of liabilities by entrepreneurs and/or investors.

4. The Smolensk Region provides a comprehensive state support to all entrepreneurs and/or investors, which includes a diverse range of measures aimed at the reduction and simplification of the procedures related to the launch of an investment project, its implementation and monitoring as well as to the issue of the corresponding licensing documentation in compliance with the federal and regional laws and regulations.

5. Public authorities in the Smolensk Region provide entrepreneurs and/or investors with the following forms of state support:

- tax exemption according to the regional laws “On state support of investment activity in the Smolensk Region”, “On tax exemption for investors who implement approved investment projects in the Smolensk Region”, and “On tax relief”;

- state guarantees of the Smolensk Region and subsidies from the regional budget according to the regional laws “On state support of investment activity in the Smolensk Region”, “On certain cases of providing state guarantees by the Smolensk Region” and “On the development of small and medium-sized enterprises in the Smolensk Region”;

- guidelines, informational and organizational support to entrepreneurs and/or investors;

- monitoring and support of investment projects according to the regional law “On state support of investment activity in the Smolensk Region” (namely, selecting investment sites which meet all the investor’s requirements, obtaining licenses, providing land plots for construction of the investment facilities).

6. Should entrepreneurs and/or investors face any problems arising from  the launch and implementation of investment projects in the Smolensk Region which are related to obtaining approvals, permissions, official decisions and other corresponding papers from the appropriate public agencies authorized to grant all the above mentioned papers, the Governor of the Smolensk Region, first deputies and deputies are entitled, within their competence and according to the federal and regional law, to start negotiations with entrepreneurs and/or investors within a month after the official period, established by the federal and regional laws for getting these papers, expires.