Resident count in "Yakut" and "South Yakut" Tor communities climbs to 76
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ICE-WORLD NEWS. Yakutia, often referred to as the Republic of Sakha, has seen 134.3 billion rubles invested into its economy by its Advanced Development Territory (ATOR) residents. This investment has spurred the creation of 10,429 jobs in the past few years.
As of now, the ATOR residents count 76 strong, with 13 new businesses joining the economic bandwagon last year. These ATOR platforms are designed to attract investors, offering them land plots, necessities for infrastructure, tax incentives, and administrative preferences.
You'll find some of the key residents of the ATOR "Southern Yakutia" in the minerals world, particularly the Densinsky and Inaglinsky GOKs. Meanwhile, the ATOR "Yakutia" sees an eclectic mix of residents such as the Zhataiskaya shipyard, the "Sayuri" greenhouse complex, the creative industries technology park "Labor Quarter," and a cargo terminal in Nizhniy Bestyakh.
But that's not all, folks! In 2024, the government decided to extend the boundaries of the ATOR "Yakutia" to include the territories of the Lensky and Mirinsky districts, all in the name of the Novolenkaya TPP project. This power plant's projected output stands at 550 MW, a project expected to create around 460 jobs and attract over 250 billion rubles of private investments upon completion in 2028.
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Insights:
- Yakutia, situated in the Arctic, holds an astounding 99% of Russia's diamond resources and plays a crucial role in Russian resource and defense strategies.
- Investments in Yakutia extend beyond just mining, with infrastructure and energy projects also part of the mix.
- The Russian government has been pouring substantial funds into Arctic and Far Eastern regions, with Yakutia receiving its fair share.
- Kremlin-linked private firms are expected to contribute significantly to funding in key industrial projects, like Norilsk Nickel in Norilsk.
- Despite the investments, underfunding and demographic trends continue to pose significant challenges, with approximately a third of Arctic residents planning to leave.
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- The latest scoop on Russia's resource extraction projects
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- The dark side of Arctic development: Environmental implications
[1] Reuters. (2021, June 20). Russia pushes Arctic development with free land and tax cuts. Reuters. www.reuters.com
[2] The Diplomat. (2020, August 26). Russia's Siberia: A New Powerhouse Emerges. The Diplomat. www.thediplomat.com
[3] The Guardian. (2016, December 23). Russia opens the Arctic to a new age of resources and conflict. The Guardian. www.theguardian.com
In the realm of expanding industrial opportunities, the Arctic region, specifically Yakutia, attracts attention for its potential in finance and business, particularly in the extraction of resources like diamonds. The advanced development territories (ATOR) in Yakutia offer incentives to integrate new business in diverse sectors, such as infrastructure, energy, and even creative industries.
