During 2007-2010, more than 70 large and significant investment projects were implemented in the republic, among them: timber sawing complex with complete cycle of wood processing “Solomensky Lesozavod”, solid wood furniture components plant of Swedwood Karelia Ltd, modern wood processing complex on the basis of timber mill Setles Ltd, modernization and reconstruction of pulp and paper mills (Kondopoga, Segezha, Pitkyaranta), modernization of plywood production at LFK Bumex Ltd, putting into operation of the 220 kV substation “Lyaskelya” after reconstruction for the needs of external electricity supply to Valaam Island, construction of a new electrical substation 250 MW in Loukhsky district of Karelia, reconstruction of JSC Karelsky Okatysh, construction of crushed stone production complexes, reinforced concrete production plant, animal breeding complexes, new companies for commercial fish and young trout breeding, tourist complexes, hotels and others.
In total, from 2006 to 2009 from the federal budget by the Federal Target Investment Program 3 327,4 mln RUR of capital investment was made on the territory of the republic. In 2010 this figure was 4 100,3 mln RUR, exceeding the total volume of financing of the previous four years by 1,2 times and the level of 2005 – by 7,1 times.
In 2010, (from all sources of financing, including federal subsidies and the Fund of Communal Systems Reform) 9 416,7 mln RUR were appropriated for federal programs in the republic (including funds from the federal budget – 8 363,7 mln RUR), which is 53,8% more than in 2009 (federal budget funds – 1,8 times higher than the previous year).
The volume of federal investment in construction and republican objects exceeded the level of 2009 by 2,3 times and reached 5 279,3 mln RUR.
The Regional Target Investment Program in 2006-2010 financed from the republican budget 4 412,8 mln RUR of investment, mostly for the development of transport and social infrastructure.
With joint financing from the federal budget, the following objects were put into operation in the republic in 2006-2010: laboratory complex of Petrozavodsk State University, the building of the Supreme Court of the Republic of Karelia in Petrozavodsk, sections of the road Kochkoma-Tiksha-Ledmozero-Kostomuksha-State border and highway Kola, etc. Reconstruction of the KareliaStat building was completed in Petrozavodsk as well as the Center for Juvenile Delinquents at the Ministry of Internal Affairs RK, reconstruction works on the White Sea-Baltic Sea Canal, State History, Architecture and Ethnography Museum Kizhi, and Besovets airport in Petrozavodsk.
Influx of foreign investment into the region in 2010 exceeded the level of 2005 by 1,2 times and amounted to 89,0 mln USD with favorable investment structure (direct – 54,6%, other – 45,4%, no portfolio).
In 2010, as a result of a set of actions for attraction of federal budget funds into the economy of the Republic of Karelia, continued state support for investors from the regional budget, development of transport infrastructure and entrepreneurship in general, ensuring sustainability of stabilizing processes in the sphere of investment and formation of the upward index dynamics of the physical volume of capital investment, the volume of investment in the capital stock of the Republic of Karelia (on the full circle of organizations) was 22,3 billion RUR, or 114,8% to the previous year’s level.
In 2011 the reconstructive dynamics of investment shall be preserved (107% to the level of 2010), also due to the actions planned by the Major Areas of the Investment Policy of the Government of the Republic of Karelia for 2011-2015 and aimed at improvement of the investment climate and modernization of regional economy.