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    Arctic produces about 6% of Russia’s GDP, around 10% of its exports — minister

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    By Tass

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    Arctic produces about 6% of Russia's GDP, around 10% of its exports — minister

    MOSCOW, September 19. /TASS/. About 6% of Russia’s gross domestic product (GDP) and around 10% of its exports are produced in the Arctic zone of the country, Minister for the Development of the Russian Far East and Arctic Alexey Chekunkov said.

    “Today, the Arctic zone of the Russian Federation accounts for approximately 6% of Russia’s gross domestic product, and approximately 10% of its exports. Certainly, any urban development, any business development must be balanced with environmental well-being, and I confirm we can be proud of Russia’s attitude toward the fragile ecosystem of the Russian Arctic,” he said in a presentation of the Arctic dossier.

    With the help of special preferential regime benefits and priority development areas, more than 1,000 new investment projects have been launched, having attracted more than 2.5 trillion rubles, Chekunkov noted.

    Earlier, Russian President Vladimir Putin proposed at the plenary session of the Eastern Economic Forum to launch a unified preferential regime for business across the entire Far East and Arctic regions beginning in 2027. Investor conditions in the territories of advanced development will be maintained when implementing unified business incentives across the Far East, he said.

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