Border region of Estonia-Russia attracting investors
The project „Regions are to attract the investors“ („4investors“) has finalized its activities with fully achieved planned result and even exceeded them.
In frame of bilateral cross border cooperation project the comfortable conditions were established for investors to start the business in border area of Estonia-Russia. Infrastructural pre-conditions for effective start of business operations were provided for foreign investors with installation of electrical substation with electrical power 8 MW at Kadastiku industrial park (Narva, Estonia).
Prepared detail planning and infrastructural project for Kulgu industrial park (Narva), technical project for Narva business incubator, renovated premises of Ivangorod business incubator and equipped working places in Narva and Ivangorod business incubators encourages business and entrepreneurship in the project territory and therefore lay the foundation for socio economic development.
Awareness of the investors on the business environment in cooperating regions has increased as a result of marketing seminars in Tallinn (Estonia) and St. Petersburg (Russia). During the promotional visits of entrepreneurs to Russia and Estonia there were disseminated marketing materials about business opportunities in Ivangorod-Narva border region. The outputs of the project help already 7 start-up companies in Ivangorod to develop their business and have attracted to Narva 6 production companies, which are planning to create jobs for total number of 615 people.
The cooperation developed between Ivangorod and Narva business incubators in frame of the project is continuing and improving the quality of consultancy services for local SMEs as well as for foreign investors.
Consultants in Ivangorod business incubator are familiar with business environment and opportunities in Estonia as well as consultants of Narva business incubator are aware about Russian business climate, procedures and opportunities. The modern equipment for on-line consulting bought and installed in frame of the project greatly helps continuously develop and update knowledge and skills.
Cross-border cooperation project “4 investors” has considerably contributed to development of the region through support of SMEs which result with creation of new jobs. There is prognosis to receive additional 300 000 euros as an additional income tax to the budgets of local municipalities of Narva and Ivangorod starting from the year 2015.
Technical documentation prepared in frame of the project helps to apply for financial support for further development of Kulgu industrial park (Narva). This project is included in Ida-Virumaa regional and Narva (Estonia) local development programs and is planned to be partly financed from EU Structural Funds in the programming period 2014-2020.
Total budget of the Project is EUR 368 696 and co-financing of the ENPI Estonia-Latvia-Russia CBC Programme 2007-2013 is EUR 331 826 (90%). Contribution of the project partners is EUR 36 870 (10%).
Additional information: Vadim Orlov, Project Manager and Manager of Narva industrial and logistical park, Ida-Virumaa Industrial Areas Development Foundation (Estonia)