The Prime Minister Alexander Martynov: Pridnestrovian economy remains open to all investors

02/19/21 16:48

The Prime Minister Alexander Martynov: Pridnestrovian economy remains open to all investors

The PMR Investment committee should become a platform for proposals developing, which will increase the investment activity

Tiraspol, February 19. /Novosti Pridnestrovya/. In the Government, the Prime Minister’s online meeting with the heads of public control and administration authorities took place.

Alexander Martynov believes that development in terms of attracting investments and creating additional jobs should be more dynamic, regarding the subject of the state’s work for foreign capital’s attraction to the republic’s economy, domestic investments as well as the results of this activity over the past four years.

According to Prime Minister, the process can be accelerated by ambitious and unconventional proposals as well as creative projects and a fresh approach at the economy and investment policy’s development.

The Head of Government with a proposal to send his ideas, appealed to the State executive and administrative bodies’ leadership at the end of previous year. Currently, all suggestions received have been systematized and, on behalf of the Prime Minister, will be sent for in-depth study to the Investment Council.

Thus, among them are:

  • The outworking a special mechanism of attracting investments to Pridnestrovie with the Russian Federation Government within the framework of bilateral partnership, including a warranty mechanism for investment contracts and special credit and taxation mechanisms;
  • regular online round tables holding with the territory manufacturing facility of the Russian regions as well as other countries in the matter of attracting investments;
  • regularly presentations’ holding of the business operations’ conditions in Moscow at the Pridnestrovian representative office’s site;
  • the improvement of investment preferences’ mechanism, based on the principle of the tax legal matters’ absence between investors and the state for 7-10 years in terms of priority export-oriented investment projects, implying a large number of jobs’ creation;
  • an active state grant startups support, as well as creation of a venture capital fund of supporting startups; crowdfunding activities’ creation in Pridnestrovie, including the development of the requisite legislation;
  • a creation of a guarantee fund for supporting small businesses;
  • the state’s participation in priority projects’ financing in the areas of organic agricultural output, recreation and tourism, public transport and medicine;
  • a small business enterprises’ dating during connecting to housing and public utilities’ services;
  • a creation of a government agency for the startups development (assistance provision in business development);
  • continuation of the interest rate subsidization’s program in terms of investment projects;
  • the public investment program’s continuation in social infrastructure, including medical equipment;
  • continuation of the communal infrastructure investment program, taking into account the necessity to ensure the utilities system in the medium term’s stability;
  • the road infrastructure investment program’s continuation, including the “minor roads” financing program as well as the road and harvesting equipment renovation program;
  • investment’s activation in the repair and the housing stock’s reconstruction;
  • investment’s activation in the rehabilitation of amelioration systems.

“The presence of a strong ally, who interested in the Pridnestrovian industrialization, investing is the determinant factor. The Russian Federation is such an ally and partner for us. Even with all things considered, our economy remains open to all investors, who pursuing economic interests in the PMR territory. But the Russian Federation has been, is and will be our strategic partner,” Alexander Martynov emphasized.

Moreover, we also paid attention to the job creation’s issue, as one of the Republic’s Development Strategy key points.

“Success in creating additional jobs will depend almost 100% on success in attracting investment. This’s the direct cause-and-effect linkage,” Alexander Martynov recalled.

In the current year, hard work is in front of attracting foreign capital, in this regard, the Investment Council’s activities take on particular significance. As the Prime Minister noted, it should become the platform where additional proposals aimed at enhancing investment activity will be analyzed and developed.

At the Head of Government instructions, in next two weeks the Council should discuss all proposals and determine the range of the most promising of them.

According to the Government’s website, in general, announced breakthrough ideas found support from the deputy composition as well as community partners, who expressed their readiness to develop them and establish interaction with Russian colleagues to implement shaped plans.



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