Yenisey Siberia Development Corporation presented promising areas for the Tyva Republic investment development

The meeting of the Council for improving the investment climate in the Tyva Republic chaired by the head of the Republic Sholban Kara-Ool took place via videoconference. Representatives of the authorities and municipalities of the region, investment companies, as well as the Yenisey Siberia Development Corporation took part in the meeting.

Sergey Ladyzhenko, Director General of the Yenisey Siberia Development Corporation, presented promising areas of investment development in the region. Currently, projects included in the Yenisey Siberia CIP with a total investment value of over 500 billion rubles are being implemented on the territory of the Republic. Sergey Ladyzhenko informed the meeting participants about the stage of the projects and stressed that their implementation by 2027 should ensure the creation of more than 30 thousand new jobs, and tax revenues to the budgets of all levels will amount to more than 500 billion rubles. One of Auriant Mining company projects has been completed.

In addition to the Yenisey Siberia CIP projects, the Republic submitted investment proposals in the field of tourism, agro-industrial complex, medicine, and roadside services, searching for strategic investors and additional support.

To develop the tourism attractiveness of the region, Director General of the Yenisey Siberia Development Corporation suggested placing a bet on the Yenisey Siberia tourism brand, which provides for a large-scale information promotion at the federal level, as well as to elaborate on the development of air links and new places for accommodating potential tourists.

According to the Corporation’s estimates, there is also a significant prospect for the housing market development in Kyzyl. “It is essential that Kyzyl develops in compliance with modern standards of urban planning. Today it is extremely necessary to keep young people and the middle class here. We have potential investors who are ready to consider the Kyzyl sites in the format of integrated urban development,” stressed Sergey Ladyzhenko.

According to Sergey Ladyzhenko, the implementation of investment projects can have a significant multiplier effect: “The costs of creating an investment project can become the income of local companies, which, in turn, can attract other, smaller ones. This is how integrated regional development works.” He proposed to create a special economic zone in Tyva, where enterprises of the service cluster could be located, and expressed the readiness of the Yenisey Siberia Development Corporation to get involved in the preparation of the necessary documents.


Cover Photo: Alexander Nerozya