Russian arctic is a territory of development
The Arctic territories that are rich in natural resources have recently become an important place of international development and geopolitical interests. In the foreseeable future “all across the Arctic, changes in climate will create new vulnerabilities for infrastructure and present new design challenges.
So, the development in the Arctic is heavily troubled by political and legal risks. In addition, “the intense cold for much of the year, long periods of near-total darkness, the potential ice-pack damage to offshore facilities, the marshy tundra dictating seasonal activity in many areas and the limited biological activity all will take a huge toll on equipment and personnel.
Russia will adopt this year a new strategy for the development of the Russian Arctic until 2035, Russian President Vladimir Putin said.
This year Russian government is going to draft and adopt a new strategy for the development of the Russian Arctic up to 2035. It is to combine measures stipulated in our national projects and state programs, the investment plans of infrastructure companies and programs for developing Arctic regions and cities.
It was also underlined that the government will pay special attention to the development of the transport and other infrastructure, which paves the way for future investments and business initiatives.
In particular, it was noted that Russia will keep developing the global transport corridor, including the Northern Sea Route, a shipping route running along the Russian Arctic coast.
According to Putin's address to the Russian Federal Assembly, Russia is expected to significantly increase the volume of freight traffic along the Northern Sea Route to 80 million tons a year by 2025.
Considering the Arctic's peculiarities, Russia will provide investors with "more advanced and more stable preferences", according to the Russian president.
Putin said he had instructed the government, experts and business representatives to draft a special federal law on a special system of preferences for investors in the Arctic zone as soon as possible for the State Duma, Russia's lower parliament house, to approve at its autumn session.