Foreign Economic Partners of Russia in the Arctic Zone

Annotation

The study expresses the readiness of foreign investors to participate in Russia's Arctic innovation projects in difficult international economic and political conditions. Key high-tech projects of the Arctic zone of the Russian Federation (AZRF) with the participation of international economic partners are presented. The tendency of economic interaction in the field of high technologies is expressed, which has not been subjected to political pressure from outside. The key investor companies of the Asia-Pacific region (APR) and the European Union (EU), with which agreements on participation in projects have been signed, are presented. The intentions of the world powers for economic partnership in the Arctic projects of Russia are discussed, the most promising areas and areas of activity are outlined. It is determined that the dominant economic attention is shown by Asian countries. The leader is the People's Republic of China (PRC), interaction with which contributes to the acceleration of investment growth in these projects and has a wide range of industry areas. The implementation of AZRF projects with the participation of foreign partners has a positive multiplier effect on the development of the Northern Sea Route (NSR), the main economic highway of the Russian Arctic. The high value of Russian and international scientific research in the Arctic is determined, as well as the critical importance of the achievements of scientific and technological progress (STP), and as a result, a high-tech economy; the increased interest of the world powers in the work of the Arctic Council is indicated; the general attention to the thin ecological system of the Arctic is presented. The aim of the study is to assess the current economic agreements with the participation of international partners and to attract foreign investment in promising long-term Arctic projects in Russia.

About authors

Sergey S. Vopilovskiy, Cand. Sc. (Econ.), Associate Professor, Senior Researcher
simonovich.63@yandex.ru, ORCID: https://orcid.org/0000-0002-2873-1425 
Luzin Institute for Economic Studies, Federal Research Centre "Kola Science Centre of the Russian Academy of Sciences", ul. Fersmana, 24a, Apatity, 184209, Russia

 

Keywords

economy, investment, Arctic zone of Russia, international partner, infrastructure project, Northern Sea Route, logistics, natural resource

DOI

10.37482/issn2221-2698.2022.46.33

UDC

338.2(98)(045)