– Mr. Prokhorov, Moscow has a fairly large number of measures for supporting business, and one of them is the so-called LSIP. What is it, and how is this program implemented today?
– The essence of large-scale investment projects is to provide land for future industrial facilities on preferential terms. This is one of the measures used to support industrial enterprises in the capital in addition to tax breaks, subsidies, consulting support, etc. This mechanism helps to resolve several problems at the same time: It attracts investments into the economy, creates new jobs for Muscovites, helps to develop high tech production facilities in the city, and generates additional tax revenue for the city's budget.
Thanks to LSIP mechanisms, companies can expand their productions, modernize their facilities and create more technological and compact infrastructure in their facilities. Say, for example, a certain enterprise needs to expand, build additional production facilities, and the land they want to build upon is either owned by the city, or its property status is not defined. In this case, after assessing the entire project we can make the decision to rent this land plot under LSIP conditions for a period of six years without an auction.