The investments in projects in Karelia’s Arctic districts are planned almost at 100 billion rubles ($1.4 billion), the region’s Governor Artur Parfenchikov said.

"Investments in development of Karelia’s north are planned at almost 100 billion rubles," he said during the Arctic: Present and Future international forum. "More than 1,400 jobs will be offered."

The governor explained the investments by the incentives, which attract businesses to the Arctic. As many as 33 companies have received the Arctic residential status, and have offered more than 200 jobs in the region. The businesses have invested more than 4 billion rubles ($54 million), he added.

"Karelia is among three leading regions in terms of their (Arctic residents’) number and their investments," the governor said.

Karelia’s three districts were in the Arctic zone before 2020 - the Belomorsky, the Kemsky and the Loukhsky districts. After 2020, three more areas - the Kalevalsky, the Segezhsky districts and the city of Kostomuksha - have joined the Arctic zone.

The forum in St. Petersburg is organized by the Association of Polar Explorers with the support from the Federation Council, the State Duma, the Ministry for Development of the Far East and Arctic, the Foreign Ministry, and other authorities.

TASS