Over the past seven years, Crimea has successfully integrated into Russia’s economic and legal space. Outlining strategic economic priorities and investing heavily in them paves the way to the region’s balanced development. Investment since 2014 amounted to 1.08 trillion roubles, including 600 billion in private investment.
The commitment by investors to develop all sectors of the Crimean economy has guaranteed that it remains well balanced. Businesses proactively invest in agribusiness, health resorts and vacation centres, trade, transport and logistics, manufacturing, construction, the energy sector and other spheres. Each of these sectors is attractive in its own way, supplemented by a whole range of measures to support businesses.
The sun and preferences
Crimea’s agro-industrial complex accounts for 6.7 percent of the gross regional product, surpassed only by trade and manufacturing. With its mild climate and a long summer that lasts four to five months, Crimea is a good place for growing most agricultural crops, including subtropical cultures that can withstand freezing temperatures only for short periods.
The priority agricultural sectors include primary (processing grapes, making base wine) and secondary (fermentation, bottling and distribution) winemaking, grain milling, dairy, meat processing, fruit and vegetables processing, bread baking, gardening and creating logistics centres.
Investment projects in agriculture
Koktebel Vintage Wine Factory
Investment: 1.4 billion roubles
The project consists of reviving one of Crimea’s oldest wineries. The investment will help expand and upgrade production processes, build a new blending facility and buy a new bottling line. The winery has already launched a new product line-up. The investment project will create 445 jobs.
Belogorsky Greenhouse Complex
Investment: 3.9 billion roubles
This is a modern greenhouse facility specialising in tomatoes. Launched in 2020, the first phase of the high-tech Belogorsky greenhouse complex produced 200 tonnes of tomatoes.
Fruit cold storage facility with a capacity of 15,000 tonnes
Investment: 1.1 billion roubles
The investor has set up a full production cycle from growing fruit to their storage, built a 1 billion-rouble storage facility and launched two sorting lines.
Krymskoye Zoloto food production park
Investment: 500 million roubles
This is the first sunflower oilseed deep processing factory with the on-site daily production capacity of 100 tonnes.
A resort paradise
Crimea is a unique region that offers the most favourable conditions for developing and ensuring the prosperity of health resorts and holiday destinations. Building on its resources, the peninsula provides investors with multiple opportunities, from eco-tourism to creating entertainment and resort facilities.
Importantly, all the segments are sure to find their customers, since almost 40 million tourists travelled to Crimea over the past six years and the tourist flow is increasing every year. The priority investment opportunities include health, cultural, educational and event tourism, trekking, bicycle, underwater, equestrian, ethnographic, sports and cruise tourism. Building new kinds of accommodation with high service quality and all inclusive offerings, camping sites and promoting tourism for children are also important.
Tourism investment projects
Primorsky Park in Yalta
Investment: 281 million roubles
The investor has rebuilt and improved the Primorsky waterfront area that has a beach, a recreational area and a green space. The waterfront promenade has been paved with granite tiles, and beach maintenance facilities have been built. The upgrades also included the installation of lighting, the renovation of hydraulic and coast-protection structures, as well as the construction of a 3,000 square metre multi-purpose facility.
Yalta-Park themed entertainment centre
Investment: 16 billion roubles
This investment project has yet to get off the ground, and is expected to be completed within five years. According to its developers, it will offer world-class amusement rides, shops, cafes, restaurants and a hotel covering a total of 100,000 square metres.
Industrial future
With 16.8 percent of the GRP, manufacturing is the leading sector of the Crimean economy. This sector employs over 100,000 people. Machine building and the manufacturing of metallurgical and construction materials are the top investment priorities.
Industrial investment projects
Concrete production factory
Investment: 49.5 million roubles
The factory operates two PR-1200 production lines and uses automated concrete machines. The production of vibropressed products has been fully automated, completely excluding the human factor.
Krym-Magistral bitumen concrete factory
Investment: 63.5 million roubles
The company has already built a bitumen concrete factory in Gvardeisky near Simferopol, and launched the production of bitumen-concrete mixtures, offering them both for sale and using them for its own projects. The factory currently employs 47 people. It has worked on major sites in Sevastopol, helped build a new airport complex in Simferopol and worked at Artek International Children’s Centre.
Big on construction
Construction is one of the most vibrant sectors of the Crimean economy. It accounts for 9.7 percent of the region’s GRP. Housing and single-family-home construction remain at the top of the investors’ agenda.
Construction investment projects
Zhigulina Roshcha residential neighbourhood
Investment: 16.2 billion roubles
Zhigulina Roshcha is the first major integrated development project in Crimea. It promises to create a new, people-friendly urban environment for 25,000 residents. This residential neighbourhood will have 7,500 flats on a territory of 45 hectares, and will offer all the necessary amenities and social infrastructure, including a state-of-the-art school building for 1,100 pupils, 4 pre-school facilities, an art school, a sports centre, a business centre, a multi-level parking lot, etc.
Yevpatoria housing complex
Investment: 2.6 billion roubles
This will be the first comfort-class residential complex in Yevpatoria, one of Crimea’s oldest cities. Built to the most stringent industry standards, it stands out by its location, design and infrastructure with mostly low to mid-rise residential buildings, convenient transport options and enclosed courtyards.
