Ministry of economic development and investment of the Nizhny Novgorod Region is the executive authority governing the investment activities in the Nizhny Novgorod Region.

FUNCTIONS OF THE MINISTRY IN THE DEVELOPMENT AND IMPLEMENTATION OF A UNIFIED INVESTMENT POLICY AND ESTABLISHING PRIORITY INVESTMENT DIRECTIONS IN THE NIZHNY NOVGOROD REGION:

• Development of measures to attract investment in the economy and social sector, work out a strategy to increase the investment attractiveness of the Nizhny Novgorod Region

• Preparation of draft legislation of the Nizhny Novgorod Region regulating relations in the field of investment policy

• Analysis of investment potential of the Nizhny Novgorod Region

• Analysis of changes in the investment situation and dynamics of investment processes in the Nizhny Novgorod Region

IN THE IMPLEMENTATION OF THE STATE POLICY TO ATTRACT INVESTMENT FOR THE SOCIAL AND ECONOMIC DEVELOPMENT OF THE REGION:

• Selection of investment projects in order to give them priority status in accordance with the legislation of the Nizhny Novgorod Region

• Granting priority status to investment projects in the Nizhny Novgorod Region

• Preparation of draft investment agreements between the government of the Nizhny Novgorod Region and investors for the implementation of priority investment projects

• Approval of lists of property created or acquired for the implementation of priority investment projects and modernized or reconstructed during the implementation of a priority investment project in the case of state support in the form of property tax relief

IN THE COORDINATION OF ACTIVITIES OF EXECUTIVE AUTHORITIES OF THE NIZHNY NOVGOROD REGION FOR THE DEVELOPMENT OF INVESTMENT POLICY:

• Creating the regional support infrastructure and development of investment activities

• Development of proposals to remove legal, administrative, economic and organizational obstacles to the development of investment activities in the Nizhny Novgorod Region

• Coordination of interaction of state authorities of the Nizhny Novgorod Region with Federal state authorities, territorial bodies of Federal Executive authorities, local self-government bodies of the Nizhny Novgorod Region and other organizations on investment policy issues