All Districts of the Novgorod Region Implement the Municipal Investment Standard

In 2024, the municipal investment standard was 100% implemented in the Novgorod Region. It provides for more effective interaction with the business and prompt resolution of issues during implementation of investment projects by means of 10 tools, which include the appointment of an Investment Commissioner of the municipality.

“The Investment Commissioner is a key figure in the district in terms of working with investors. In most municipalities, this is the Deputy Head of Administration responsible for the economic block. Next year the municipal Commissioners and district investment teams will undergo training. “The main task of colleagues from municipalities is to attract businesses to their territory and promote investment opportunities in the district,” commented Yulia Alekseeva, Deputy Minister and Director of the Investment Department of the region’s Investment Ministry.

The municipal investment standard also includes measures to develop and approve the investment portfolio/passport of the municipality, creation of an advisory body under the local administration, regulations for supporting the investment projects, introduction of feedback from businesses, cooperation with the Novgorod Region Development Agency, and inclusion of an investment section in the strategic documents.

The assessment of the municipal investment standard implementation quality in the region’s districts is planned for 2025.