‘Ready to keep being a low scorer’: Tatarstan retains its position in national investment climate rating

“Mr Sobyanin, I am not claiming anything, Moscow’s umbrella is really fine for us”

Tatarstan remains second in a national investment climate rating. The results were announced at Petersburg International Economic Forum.

Moscow finished first. Nizhny Novgorod region shared second position with Tatarstan. The top 3 also includes Bashkiria, Moscow and Tyumen regions.

“Mr Sobyanin, I am not claiming anything, Moscow’s umbrella is really fine for us. I am ready to keep being a low scorer if the administration permits this,” Tatarstan leader Rustam Minnikhanov joked. “In general it is a good thing, we always analyse in detail where we are, who have some interesting solutions. Good job. Many thanks!”

Head of Bashkiria Rady Khabirov also touched upon the rating in a joking way:

“I will fly back home tomorrow, the residents will surround me and ask: ‘How’s the rating? What’s the grade?’ I will say: ‘We were graded C.’ They say: ‘What about the Tatars?’ I reply: ‘D again.’ Then it is better. They will tell me: ‘Perhaps, we should be somewhere around?’ In this sense, either we or you should be around, we will find this out.”

Tatarstan is in the lead in launching a new investment standard

The rating was launched by current Russian Defence Minister Andrey Belousov in 2014 and has been created by the Agency for Strategic Initiatives for 11 years now. Tatarstan has been second for the sixth year in a row. 70 indicators are analysed in when making up the list. Some include regulatory environment, business institutions, infrastructure and resources, support for small entrepreneurship.

Tatarstan is also among leading regions in launching a new investment standard.

As Rustam Minnikhanov noted, the national investment climate rating is an important benchmark to raise the regions’ investment attractiveness, while regions can see their reserves and set up work to improve conditions for businesses and investors. 1.1 trillion rubles of investments were attracted in the republic’s economy in general in 2023.