The Ministry of the North Caucasus Affairs of the Russian Federation approved the members of the expert council for tourist-and-recreational special economic zones included in the North Caucasian tourist cluster, managed by Joint-Stock Company Northern Caucasus Resorts. Its authority includes consideration of applications from potential investors for the construction of commercial infrastructure, assessment of their feasibility and cost-effectiveness and making decisions about awarding SEZ resident status. Odes Baysultanov, the First Deputy Minister of the Russian Federation for Northern Caucasus Affairs, headed the SEZ Expert Council.

‘After receiving the authority to exercise on behalf of the Russian Federation the JSC NCR shareholder rights within the activities of the Ministry of the North Caucasus Affairs of the Russian Federation, an integrated system to support investment projects in the North Caucasus Federal District was actually created. In addition to the tools for development of regional segment of the economy, which the agency used through the state program of NCFD development until 2025 and investment portfolio of JSC North Caucasus Development Corporation, now competences of dealing with investors in the tourism sector, one of the anchor sectors for NCFD republics, are assigned to the Ministry of the North Caucasus Affairs of the Russian Federation’, Odes Baysultanov said.

‘Using our experience with regional investment projects and in close cooperation with representatives of the local small, medium-sized and large businesses, we can more effectively involve residents in tourist cluster SEZ. For the guests of resorts, reflection of this work will be the emergence of new hotels and entertainment centers on the sites, expanding the range of services — not only in winter, but also in summer, increase in the service level, and as a consequence, increase the attractiveness of North Caucasus tourist destination as a whole’, he stressed.

The Expert Council for SEZ of the North Caucasus Tourism Cluster includes representatives of the Ministry of the North Caucasus Affairs of the Russian Federation, the Ministry of Economic Development of the Russian Federation, the Federal Agency for Tourism, JSC NCR, JSC NCDC, Sberbank PJSC, SME Corporation JSC, Public Organization Delovaya Rossiya, and the Agency of Strategic Initiatives in NCFD.

In accordance with Russian Federation Government Decree No. 238 dated February 28, 2017 transferred the authority for management of special economic zones in the North Caucasus Federal District, previously reserved to the Ministry of Economic Development of the Russian Federation, to the Ministry of the North Caucasus Affairs of the Russian Federation. Under the Decree, the Ministry of the North Caucasus Affairs of the Russian Federation is forming an expert council to consider applications from potential investors and to take decisions about awarding the SEZ resident status within the tourist cluster, register SEZ residents and maintain the respective register, enter into tripartite agreements with JSC NCR and residents for tourist-and-recreational activities and perform other functions defined by the Federal Law On Special Economic Zones in the Russian Federation.