Meeting of the Vice-Governor with the Finnish investors (Встреча вице-губернатора Лен области с финскими инвесторами)

I had a pleasure to participate to the Meeting with Vice-Governor Dmitry Yalov on Monday December 16th, 2013. The meeting was organized by the Finnish General Consulate in St. Petersburg.

Since Alexander Drozdenko became Governor of Leningrad Oblast, a lot of progress has taken place in the region:

–      Vice-Governor Dmitry Yalov has organized Investment Council meetings actively and meetings have offered a real dialog between business and administration
–      There is a front-office, which helps investors to solve their problems with various administrative barriers
–      Leningrad Oblast promises tax incentives for the investors with investments more than 8 million Euro

  • No property tax 2,2% during the recoupment time of the investment
  • Profit tax is usually 18.5%, but for the investors 13-15% during the investment recoupment time
  • Industrial parks get the same tax incentives
  • Trading operators (for example Nokian Tyres) get tax returns 30-70%

The systematic work has helped to reach the results: RA Experts ranked Len Oblast as minimum risk place to make investment (overall position in this rank was 19th place, since there LO had “only” reduced potential, but risk was superbly minimum. To reflect the whole picture, St. Petersburg was ranked to the TOP with such leading regions like Moscow, Krasnodar Region, Tatarstan and Moscow Provence, they all had Maximum potential – Minimum risk.

Check the Poll results: http://raexpert.ru/ratings/regions/2013/

Merry Christmas and Happy New Year 2014!

Timo Mikkonen
Chairman
North-Western Regional Committee
AEB (Association of European Businesses)

Managing Director
Vostok Consulting Oy