"Baikal harbor" will receive new development and support at the federal level

The difficult economic conditions in the country and the regulatory framework that imposed restrictions on the activities of investors in a special tourist-type economic zone, suspended the development of the Baikal Harbor project. Today, the republic's leadership is actively working to remove restrictions and is adjusting investment projects.

Infrastructure in the first phase is already built. For these purposes, over 4 billion rubles have been spent, but investors have not begun to take active measures. The Federal Government even raised the issue of closing the Baikal economic zone.
The government of Buryatia managed to defend the project, and in March 2017 documents were signed about the resumption of activities of the "Baikal Harbor". Today, the economic zone is getting a new development taking into account the current situation analysis and adjustment of investment projects.

- All investors have declared their readiness to continue their activities. We understand that, probably, everyone will not be able to, but most of the investors feel confident enough and make specific plans, "Acting Head of Buryatia Aleksei Tsydenov said at an expanded meeting on the development of Baikal Harbor on May 18.

Their plans were confirmed by investors who participated in the meeting. So the group of companies "Inter" starts work already this year, and the first tourists, the objects constructed by the company will be able to take in the next tourist season.

All investors who will prove their worth at the supervisory board that will be held in June this year, the Government of Buryatia will provide all-round support, including, in matters of project lending.

- We launched the process of adjusting the regulatory framework, we received under the instruction of the Chairman of the Government of the Russian Federation, now there will be an instruction from the President. We sign an agreement with Rosselkhozbank, which begins to take a more active position on the work in the region. That is, we have really moved the situation, - summed up Alexei Tsydenov.