“Chukotka AO Development Fund” held a working meeting on interagency cooperation within the framework of the promotion of PDA projects “Beringovsky”

The non-commercial organization "Fund for the Development of Economics and Direct Investments of the Chukotka Autonomous Region" held a working meeting on 31 March 2016 with the support of the Department of Finance, Economy and Property Relations with representatives of the banking structures of the Region, tax authorities, municipalities. The purpose of the meeting is to study the issues of interagency cooperation when preparing potential applications for registration under the TOR and support the stages of project implementation.

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Representatives of banking structures identified the main issues arising in the case of the need for co-financing of PDA projects. We recommend options for allocating investment lines of business to subsidiaries in order to maintain transparency. Forms and types of acceptable support for planned projects by separate types of pledges, guarantees, guarantees of funds, guarantees of parent organizations are considered.

The tax authorities of the district drew attention to the need for prior monitoring by both the potential residents themselves and investors and projectors for the absence of late payments of taxes and fees at the time of filing an application with the Corporation for the Development of the Far East.

Representatives of municipalities expressed willingness to participate in the individual application of approaches to each applicant for residence in the PDA.

Director of the Foundation Olga Plotnikova, who is the official representative of the Corporation for the Development of the Far East in the territory of the Chukotka Autonomous Region, commented: “In the course of the meeting, fruitful negotiations were held, ways were found for implementing joint work on the first applications from potential PDA residents in the personal approach,

taking into account the industry, specifics of tax accounting and expected tax preferences. The need to establish a legal framework within the framework of cooperation through the conclusion of partnership agreements and agreements of intent between representatives of banks on the territory of the Region and the Development Fund of the Chukotka Autonomous Region is identified”.

Representatives of the Department of Finance, Economy and Property Relations expressed satisfaction with the agreements reached as a result of the meeting. We are counting on the first successful registration of the resident of the PDA “Beringovsky” in April – commented the Deputy Governor, Head of the Department of Finance, Economics and Property Relations Alesya Kalinova.

Fund87, 05.04.2016