The State Duma approved at first reading a law on a unified investment standard for the regions.

      The State Duma of the Russian Federation adopted in its first reading a bill to amend the federal law “On investment activity in the Russian Federation carried out in the form of capital investments.” The initiative is aimed at forming a unified approach to the development of investment activity in the regions and municipal entities.

      The bill was drafted in execution of an instruction from Russian President Vladimir Putin following the results of the St. Petersburg International Economic Forum. The document envisages the legislative consolidation of the mechanisms of the Regional Investment Standard (RIS) and uniform principles for supporting investment projects across the entire country.

      As reported by the chairman of the State Duma Committee on Economic Policy, Maksim Topilin, the bill provides for defining the powers of specialized organizations for working with investors, creating investment committees, and establishing an effective feedback system between business and government authorities. A separate emphasis is placed on the municipal level — it is proposed to enshrine the possibility of appointing investment commissioners from among municipal officials.

      The introduction of a system to monitor the implementation of the investment standard is also planned. It will be carried out by the Ministry of Economic Development of Russia together with federal and regional authorities, and the results will be submitted to the country's president.

      According to Topilin, the initiative codifies the best practices of the Regional Investment Standard that have been implemented in the subjects of the Russian Federation with the support of the government and the Agency for Strategic Initiatives over the past four years. By the end of 2025, the RIS will have been implemented in all 89 regions of Russia.

      It is expected that the adoption of the law will standardize the legal mechanisms for working with investors, create equal conditions for business, and contribute to achieving the goal of increasing the volume of investment in fixed capital by at least 60% by 2030 compared to the 2020 level.