Governor of Chelyabinsk Region Petr Sumin signed a decree providing administrative support to the local investment projects. The document is aimed at creating an investment-conducive environment in the region and making it easier for businesses to operate.

Under the new decree, the potential investors will be able to have the whole issue settled at just one place, while applications for setting up a business are to be considered by the Ministry for Economic Development. The only papers an investor has to submit are a feasibility study, some financial reports, and evidence of paid taxes. The application will be looked into by the federal, regional, and municipal authorities’ representatives.

First, the Ministry for Economic Development has to decide whether the project is expedient within ten days. The required investment volume comes to at least 250 million RUR so that a minimum of eighty new workplaces could be created. What is more, a potential investor has to be a bona fide taxpayer. In case the project has been approved by the ministry, the application gets transferred to the city council and an agreement is signed by the investor, the municipality, and Chelyabinsk Region Government. This means that the whole red tape routine isn’t going to take any more than a month.