The active investment policy of Belgorod region is targeted to the strategic objectives of economic modernization and industrial renovation. The favorable investment climate contributes to the economic diversification and makes the region the best place for the enlargement of output.
Among the effective measures of investment attraction to the economy and social sphere as well as the incentive business activity are favorable institutional and economic business conditions.
The Government of Belgorod Region is implementing a set of measures providing the most comfortable conditions for investors and creating a favorable investment climate: assists in the allocation of land for the construction of production facilities, differentiated income and property tax rates for the regional economic entities.
Special measures are implemented for providing Belgorod region state guarantees and state property for credit resources assurance, for regional budget funds investment for the formation of public corporation charter capital.
The region carries out accelerated development of energy systems, provide constant cooperation with companies –providers of electricity, gas and water supply for keeping the volume of investments allocated for the development of engineering infrastructure on the basis of co-financing at the expense of investors and gas and power supply organizations which carry out utilities settlement.
The region has implemented project management, develop measures to protect the rights of investors, provide staffing of the projects.
In the framework of the program "Belgorod region e-Government " registering and monitoring of projects are carried out. The established system allows enforcement authorities to track the progress of each project at the regional and municipal levels, to solve arising in the project implementation process problems, to achieve the specified performance and future goals by mutual means.
The long-term target program "Improving the investment climate for attracting investments into the economy of the Belgorod region in 2011-2015" adopted in June 2011 has brought together Belgorod region measures for attracting investment for dynamic growth and diversification of the regional economy and to determine the future prospects of improving conditions for the development of investment activity.
Since 2014 in the regional subprogram of the state Belgorod Region program «Development of economic potential and to create a favorable business climate in the Belgorod region for 2014-2020" (approved by the Regional Government December 16, 2013 number 522-pp) "Improving the investment climate and promoting innovation" is adopted and implemented. The purpose of this document is to create conditions to increase Belgorod region economic potential, creating a favorable business climate and increasing regional business innovation activity.
Belgorod region is actively cooperating with ANO "Agency for Strategic Initiatives to promote new projects." By the Supervisory Board of the Agency Decision under the chairmanship of V. Putin in 2012, Belgorod region was included in the list of subjects of the Russian Federation involved in the pilot testing of the implementation of the Standard of the Russian Federation executive authorities to ensure a favorable investment climate in the region.
Currently, the regional Government has accomplished the implementation of the Standard requirements. Within the framework of that activity the legal framework including issues affecting the protection of investors as well as measures for staffing of the regional economy and enabling institutional environment for doing business were improved.