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Crimea is looking for a new vector of export partnership

Crimea will continue to develop exports with China, but first of all, you need to focus on attracting Russian investors, shared her opinion in a conversation with ABF "Economics today» Associate Professor of the Department of World Economy of the PRUE. D. AT. Plekhanov Galina Kuznetsova.

Crimea is looking for a new vector of export partnership

Crimea calculated export profit

Today China is the largest trading partner of Crimea. AT 2020 year, according to Krymstat data, the share of China in the total volume of export supplies was 12%. India is also on the list of exporting countries (10%), Kazakhstan (6,7%), Uzbekistan (1,8 %) and Armenia (0,6%).

For nine months 2020 year, the export of the Republic of Crimea increased by 8,6% compared to the same period last year, making about 26,2 million dollars. The commodity structure of supplies abroad is constant: exported food products and raw materials for their production (51,5 %), engineering products (24,6 %) and chemical products (18,6 %).

A new look at the investor

Crimea should not stop at what has been achieved – you need to move on and develop in other directions, actively attracting investors for this.

“The investment attractiveness of Crimea for foreign investors is quite controversial. for example, China shows us its friendly disposition, but real investment comes from other sources. The world is full of economic zones, who compete with each other, because capital is in short supply. Therefore, the Crimean authorities first of all need to create conditions for attracting investors from Russia and the CIS ", – thinks Galina Kuznetsova.

The total volume of investments in fixed assets of the Republic of Crimea in 2020 year exceeded the mark 221 billion rubles. Investment investments were formed from attracted budget funds, their share was 69%. Of them 59% – federal budget funds. Own funds amounted to 25% from all investments. Investors are most willing to invest in enterprises, working in the field of transportation and storage (57% from all investments), industry (10,8%), tourism and hotel industry (9,9%).

As for the share of foreign investment, to the 2020 year she did not exceed 1,1% of the total amount of funds raised.

Crimea is looking for a new vector of export partnership

Promising areas for investment

As for large-scale infrastructure investment projects this year, federal authorities seek to attract private investment to Crimea through special administrative regions (deed), which are designed to complement the current free economic zone. Residents are offered strict confidentiality and tax incentives. In this case, the investment portfolio should start from 150 million rubles.

From the current open offers on the investment portal of the Republic of Crimea, it is proposed to build a plant for the production of feed, project capacity from 51 million rubles; creation of greenhouse complexes – from 20 million rubles for the complex; construction of various desalination stations - from 92 million rubles.

For foreign companies, an offer is under development due to the current sanctions and the specifics of banking services. Although it is obvious, that the sphere of application of foreign investments concerns mainly agriculture and tourism, noted in the Ministry of Finance of the Republic of Crimea. Investment projects can be a potentially interesting direction for Crimea, associated with the introduction of innovative technologies.

"Crimea – peninsula with a small area and limited production. In my opinion, tourism opens up prospects for Crimea, services, digital technologies, innovative ideas for young professionals, who are interested in writing software, and swim in the sea ", – summarizes Galina Kuznetsova.

In the near future, Crimea may well become an attractive investment site, especially in the field of IT, which should also be of interest to foreign companies.

Daria Belova

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