The Nizhny Novgorod Region confirmed its status as one of the leading regions in the National Investment Climate Rating compiled by the Agency for Strategic Initiatives (ASI)

The Nizhny Novgorod Region has once again taken second place in the National Investment Climate Rating, compiled by the Agency for Strategic Initiatives (ASI). The results of the 2024 rating were announced during the session “Business Climate in Russia: National Model and Regional Opportunities” at the St. Petersburg International Economic Forum (SPIEF) on June 20.

“The structure of the National Investment Climate Rating includes eight areas, which form an integrated assessment. In 2025, the rating methodology was upd ated under the president's instructions, taking into account new objectives, national goals, best international and regional practices – which is very important – and proposals fr om the business community. This year, over 400,000 entrepreneurs participated in assessing the investment climate. 84 regions were ranked across 46 positions. 57 regions improved their integrated investment index. The average index across the country increased by 1.13 compared to last year,” noted Alexander Novak, Deputy Prime Minister of the Russian Federation.

Nizhny Novgorod Region Governor Gleb Nikitin emphasized that the region had made a significant leap fr om 2017 to 2023, rising by 68 positions in the ranking. Given the intense competition among regions, maintaining such a high position has been challenging.

“Competition grows tougher every year, and maintaining a high standard becomes increasingly difficult. However, we se t even more ambitious goals for ourselves each year. Holding our position was no less challenging than the previous rapid growth, when we climbed 10 positions annually. Importantly, in terms of points, we grew faster than our main competitors. This indicates that we are systematically working on indicators wh ere there were shortcomings or untapped potential. The entire team is working extremely efficiently, and I want to thank every employee for that,” said Gleb Nikitin.

According to the Governor, the Nizhny Novgorod Region is systematically working to improve all aspects related to a favorable business environment: the regulatory framework, infrastructure, support measures, business institution development, and the expansion of small and medium-sized enterprises.

“Investment volume in the Nizhny Novgorod Region has been growing for the 8th consecutive year. In 2023, there was a record increase of 32%, and last year, it grew by another 1.8%, reaching 728 billion rubles. Private investments increased by 1.3 times. This year, the trend continues – in the first quarter, growth amounted to 8.1%,” added Gleb Nikitin.

Nizhny Novgorod Region Deputy Governor Andrey Sanosyan explained that over the past year, special attention had been paid to implementing the “Digital Corridor” approach, enabling investors to execute projects digitally without needing to be physically present in the region.

“Today, the Nizhny Novgorod Region is one of the few regions wh ere an investor can complete the entire project implementation process digitally. The entry point is the Nizhny Novgorod Region investment portal, a digital platform of our Development Corporation. The service allows submitting a support request, selecting investment sites through an interactive investment map, and finding information about the advantages of investing in the region, current investment legislation, as well as planned and ongoing investment projects in the region,” said Andrey Sanosyan.

The investment portal provides information on over 460 available investment sites, 100 support measures, and 180 investment projects. The digital platform also includes an investment project support system, featuring services such as the "Nizhny Novgorod Region Investment Map," "Investment Projects Catalog," "Support Measures Calculator," and "Investment Project Management Office."

Nizhny Novgorod Region Deputy Governor Egor Polyakov noted that the region is also actively implementing the “End-to-End Investment Flow” project, aimed at simplifying investor interaction with executive authorities and utility providers.

“To date, the investor's journey has already been reduced by nearly 30% – to 959 days. This was achieved through changes in regional legislation, internal organizational regulations, and coordination among utility providers. However, we continue to work actively on adjusting federal legislation. We expect that joint efforts will ultimately reduce the process by 64%, to 454 days," said Yegor Polyakov.

He added that the Nizhny Novgorod Region has a Council on Development Strategy and Investments, part of the regional investment standard, designed to address challenges investors face during project implementation.

“Last year, the council launched a mediation mechanism to verify pricing fairness for grid connection. An interdepartmental commission was established to assess the reasonableness of technical solutions by utility providers. As a result, connection timelines and costs for investment projects were reduced. The commission's work saved investors over one billion rubles and enhanced the council's efficiency,” added Egor Polyakov.

During the SPIEF session, the ranking for implementing the regional investment standard was presented, with the Nizhny Novgorod region taking second place after Moscow. The region was also recognized as a leader in reducing connection times for new enterprises to water, gas, and sewage systems.

The St. Petersburg International Economic Forum is being held from June 18 to 21, 2025. SPIEF is held annually with the participation of Russian President Vladimir Putin, federal and regional leaders, and heads of diplomatic missions.