The Murmansk special economic port zone can become pivotal for the development of Russia's Arctic region, Deputy Economic Development Minister Alexander Tsybulsky said on March 10, as quoted by TASS.

"We'd like the Murmansk Region and the planned Murmansk transit hub to become anchor projects of the Arctic's development. The Murmansk special economic port zone could become another such project," Tsybulsky said during a meeting with Murmansk Region Governor Marina Kovtun.

Deputy Prime Minister Dmitry Rogozin proposed the concept of developing the Arctic based on a system of anchor economic development projects while attending a meeting of the State Commission for Arctic Development. These anchor projects are also stipulated in the concept of territorial cluster development in the Arctic.

Authorities are preparing a package of documents to amend the agreement on the special economic port zones. Fishing companies are hoping to join the list of zone residents, a club that is currently limited to oil and gas companies. Alexander Zaitsev, director general of the regional management company Special Economic Zones, stated previously that fishing companies planned to invest over RUB 700 million in the Murmansk zone's development.

Eight fishing companies that have processing facilities in the Kola Bay have declared their willingness to contribute to the creation of the Murmansk special economic port zone.