Putin orders incentives for tourism businesses, investors be preserved and expanded
MOSCOW. Nov 1 (Interfax) - Russian President Vladimir Putin, following the September meeting of the State Council on tourism, has instructed the government to preserve a preferential interest rate on loans for investors in tourism and provide them with a one-time subsidy for construction, as well as extend benefits for SMEs in tourism.
"The government should retain the amount of the preferential interest rate on loans provided to investors in accordance with the previously concluded contracts (agreements) to implement investment projects required for sustainable development of domestic and inbound tourism, creation and development of tourism clusters promoting domestic and inbound tourism," the list of the president's orders following a meeting of the State Council Presidium, which was held in Vladivostok on September 6, reads.
The progress report should be submitted by December 1, 2022, and annually thereafter.
By the same date, in order to support projects for the construction and renovation of the hotels with up to 120 rooms, the government must submit proposals to provide investors with a one-time subsidy (grant) for the timely implementation of the projects for the construction (refurbishment) of hotels. For this purpose, the accommodation facilities must be commissioned, pass classification and confirm the launch of their operations.
The government should also submit proposals to extend the program for building modular non-capital accommodation facilities, including camping sites and glamping sites, by extending the list of Russian constituent entities, which will receive funds for these purposes from the federal budget.
By December 1, in order to develop domestic and inbound tourism, the president has instructed the government to consider extending the term of a preferential interest rate on loans provided to small and medium-sized businesses engaged in tourism activities.