The Strategy of a long-term social and economic development of the Smolensk region (until 2020) was established by the resolution of the Administration of the Smolensk region #418 of 26.11.2007 (hereafter referred to as the Strategy).
Based on the research, the main scenarios of social and economic development of the Smolensk region were identified and defined in the Strategy. The objective of the region’s development is to gain a significant qualitative investment growth. The main priorities to be achieved in the long-term prospective have been set in the approved scenario.
Currently, the Investment strategy of the Smolensk region is being developed. It defines the priorities of the region’s development in terms of attracting investments. A government contract with the developer of the Strategy has been concluded.
According to the road map established by the Directive of the Governor of the Smolensk region #917 of 12.09.2013 on the introduction of a standard for the work of executive authorities in the given entity of the Russian Federation related to providing a favorable investment climate in the Smolensk region the Investment strategy will be developed in the first half of 2014.
Presently, a state regional program “Economic development of the Smolensk region, including the creation of favorable business and investment climate” is being worked out for 2014-2020. It will comprise specific events to facilitate economic development of the region and specify the amounts and sources of funding.
The purpose of this government program is to create a hospitable entrepreneurial climate and favorable conditions for doing business in the Smolensk region.
The main action plans of the Administration of the Smolensk region aimed at attracting investments as well as at establishing an appropriate infrastructure to ensure proper business support will be determined in the government program.