Investment environment improvement authorities in the Tula Region

1. Investment Club under Governor of Tula Region

The Investment Club was established with the aim of developing proposals on forming the salubrious investment environment, unfolding the Region’s investment potential, regular information exchange on relevant issues of investment activity and raising the efficiency of interaction between the public authorities and investors in the territory of the Tula Region.

The organizational and technical support of the Investment Club is provided by the Ministry of Economic Development and Industry of the Tula Region.

The Investment Club’s decisions are advisory rather than mandatory.

The main objectives of the Investment Club are:

  • developing recommendations on key strategic priorities of Tula Region’s economic development;
  • entering proposals on how to reduce administrative barriers in the regional economy;
  • determining the priorities for the support of regional manufacturers;
  • assessing the application of regulatory legal standards and expert evaluation of draft statutory acts regulating the investment activity in the Tula Region;
  • assessing the course of execution of the investment projects accomplished in the territory of the Tula Region;
  • mediating the information exchange between members of the Investment Club on investment activity;
  • developing recommendations on raising the efficiency of investment activity in the Tula Region;
  • participating in the preparation and conduct of conferences, meetings, seminars and other events, to address problems of the investment policy;

within its competence the Investment Club has the right:

  • to request and obtain, in accordance with the established procedure, from the executive authorities of the Tula Region, local governance bodies of the Tula Region and organizations – all essential information for addressing the issues within its competence;
  • to start work groups for studying the issues brought out for the discussion of the Investment Club.

The Investment Club is divided into the General Council and Regional Council.

General Council

The General Council includes representatives of public and business organizations, business community, development institutes, financial institutions, auditing and consulting organizations.

Strategic matters of improving the investment environment in the Tula Region, the development of proposals towards economic development of the Region, as well as starting new businesses and enterprises are also within the competence of the General Council.

Sessions of the General Council of the Investment Club are held as need be, but not rarer than once in half year.

Региональный совет

Among the members of the Regional Council are representatives of the business community and NGOs of the Tula Region.

The Regional Council is in charge of other issues involved in improvement of the investment environment in the Tula Region, as well as the development of proposals regarding the industrial growth of the Region.

Sessions of the Regional Council under the Investment Club are held as need be, but not rarer than once a quarter.

2. The headquarters for the introduction of best practices on the national scope to improve the investment environment in the Tula Region.

At the Plenary Session of the XIX St. Petersburg International Economic Forum, Russian President Vladimir Putin proposed the establishment of social headquarters in all regions of Russia, which will ensure the implementation of the best mechanisms of creating a favorable investment environment. Governor of the Tula Region instituted the Headquarters and work groups (project offices) for implementation of best available practices on the national scope to improve the investment environment in the Tula Region.

Included in the headquarters are not only representatives of Tula Region’s executive authorities, but also captains of major business associations, federal authorities and municipalities.

As per the document, the key tasks of the Headquarters and work groups (project offices) for implementation of the best practices on the national scope, to improve the investment environment in the Tula Region are:

  • identification of the key problem areas negatively affecting the investment environment in the Tula Region;
  • selection and introduction of best regional practices for improvement of the investment environment in the Tula Region;
  • involvement in the monitoring of implementing the roadmap for improvement of the investment environment in the Tula Region.

Sessions of the Headquarters should be held not rarer than once a quarter, while work groups (project offices) should meet at least once a month.

Sessions of the Headquarters:

3. Regional Investment Commission

The Regional Investment Commission for the selection of investment projects claiming the government support at the expense of Tula Region’s budget is a standing collegiate authority selecting investment projects worthy of government support in accordance with Resolution #458 of the Tula Region’s administration, dated June 07, 2011 “On Approving the Rules of Using Budgetary Allocations from the Budget of the Tula Region for Capital Investments of the Budgetary Funds”.

The Commission’s main objective is the review and selection on a competitive basis of investment projects worthy of budgetary injections in the form of capital investments, in accordance with the Rules.

4. Tula Region Development Corporation.

The Tula Region Development Corporation is a state-run company (100% of its authorized capital stock is owned by the Tula Region government), established with the purpose of developing the tools of investment activity support in the Tula Region, including due to outsourcing of certain administration functions of the public authorities.

The key areas of the Corporation’s activity are:

  • attracting investments to the Tula Region;
  • assistance in the implementation of investment projects and investor’s information and consulting support;
  • participation in forming the salubrious investment environment.