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The Smolensk Region became the winner of "Beacon of Russia-Germany Economic Cooperation Contest"
 

11.07.2014 The Smolensk Region became the winner of "Beacon of Russia-Germany Economic Cooperation Contest"

The Smolensk Region won  the "Beacon of Russia-Germany Economic Cooperation Contest", where it was awarded the title of "the investment-attractive region"

The Head of the Russian Embassy in Germany, the Head of the Eastern Committee on the German Economy, the Head of the Russian Economy Council in Germany gathered at the Congress held in Berlin on July 7th. At the Congress experts used a number of criteria to assess the conditions which guarantee business development for investors. 
These criteria include investors' inclusion into the process of administrative decision making and decision evaluation, access to public information provided by regional executive bodies, absence of legal restrictions on the federal and regional levels for projects implementation, security of business and investment activity, protection of capital investment and investors' rights granted by the federal and regional legislation etc.

Smolensk regional innovations in preferential taxation for investors deserved special approval:
investors are not liable for assets tax which covers all assets (constructed/reconstructed or purchased during the implementation of the investment project;

- the interest rate of the income tax has been reduced for 4,5 percentage points compared with the regional tax, this regulation covers the income received during the implementation of the investment project;

- the investor will not be liable for any land charge during the construction period of the investment facility;

- the investor will not be liable for any rent charge.

The provision of investment sites with energy and transportation infrastructure, business support and simplification of administrative procedures are key elements of investment policy.

The title of the "Investment-attractive region" received by Smolensk serves as a quality mark for potential European partners and a guarantee of clear and comfortable business conditions.

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