Economy
Rosatom to assign advanced development territories status to the Arctic
© RIA Novosti. Grigoriy Sisoev

Rosatom to assign advanced development territories status to the Arctic

The Rosatom State Atomic Energy Corporation has proposed to assign territory of advanced development status to the Arctic region, Alexander Burutin, advisor to ARMZ Uranium Holding (Atomredmetzoloto) Director General, a Rosatom representative, said at a State Commission for Arctic Development business council meeting, as quoted by TASS.

"I suggest that my colleagues consider the possibility of introducing an initiative to the government on expanding the scope of the law on advanced development territories to the Arctic zone," he said.

The law on territories of advanced development, which envisages tax benefits for investors and the privileged use of infrastructure facilities, came into effect in 2015. The creation of several such territories in the Russian Far East has already been approved.