One of the largest cities in Russia is about to know even more development as the head of the city’s transport committee has proposed the city to become the management center of all the Arctic regions. This city is Saint Petersburg. If the city becomes a center for the region, new investment and development opportunities for Russian companies are expected to arise. Foreign investors interested in setting up a company in St. Petersburg can rely on our attorneys in Russia for assistance.
The Arctic region has developed quite a lot during the last decades of years and the need of an administration center for the whole region has become stringent. Having the right infrastructure, St. Petersburg could be an ideal candidate as the city where the operations of the management center for the whole Arctic area could be developed. Not only that, by St. Petersburg also has one of the most advanced transportation infrastructures of the country which allow the carrying of any large items, such as equipment used to explore the region.
The large Russian city has every chance to become the administrative center of the area, the only issue at the moment being the status St. Petersburg will be assigned. The idea of St. Petersburg becoming a regional administrative center is backed by the scientific community.
The idea of the Arctic region to be administered in order to thrive was launched in 2010 and ever since four meetings were held in order to choose a city which could take on such responsibility. St. Petersburg was proposed a few years back and ever since the federal and the regional authorities have invested a lot in the city’s development.
St. Petersburg becoming an administrative center for the Arctic area will not only benefit science, but also the population living in this region, as a large number of jobs would be created and many Russian or foreign companies would find interesting investment possibilities here. The government also wants to attract the international business community interested in exploring the Arctic.
For full information on investment opportunities in St. Petersburg, do not hesitate to contact our Russian law firm.
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