Economy
Expert: Adoption of law on Arctic to promote its development
© RIA Novosti. Evgeniy Samarin

Expert: Adoption of law on Arctic to promote its development

The adoption of a separate law will give Russia's Arctic a legitimate status for state and municipal management, make it possible to implement a package of measures to stimulate its economy and establish a mechanism of innovative regulation on the part of the state, the Arctic-Info agency reported, citing Alexei Ivanov, member of the Arctic and Antarctic Expert Council at the Federation Council, as stating that participation in elaborating a draft on Russia's Arctic is a council priority.

The expert noted that the law on Russia's Arctic is necessary to implement a strategy and government program on its development.

"We must create an instrument for implementing this strategy and creating institutional conditions to develop the Arctic and attract private capital and people into this macro-region. In other words, we should build a streamlined strategy-program-law system that will lead to the comprehensive development of the Arctic," Ivanov said during his speech at the third international forum, "Arctic Projects — Today and Tomorrow," which is being held in Arkhangelsk.