OREANDA-NEWS. July 26, 2011. Presentation of The Corporation for Development of the Republic of Karelia and key investment projects to be promoted by this organization took place in Petrozavodsk on July 22.

The Corporation for Development of the Republic of Karelia Inc. was established by the Government of Karelia in June of the current year. The main priorities of activity of the new organization is assistance in pursuance of the state policy focused on development of the republic, mobilization of investments in the region and creation of new jobs. The Corporation for Development of the Republic of Karelia is called to provide effective cooperation between the business and the state at implementation of large investment projects.

Presentation of activity of The Corporation for Development of the Republic of Karelia was timed to the XL Sailing Regatta Onego-2011 and the XI Bank Cup Regatta held in Karelia. These days the republic received representatives of big Russian business, all of them were invited to the presentation.

Head of Karelia Andrei Nelidov opened the presentation that took place in the Onego Palace hotel complex. Ivan Romanov, First Vice-Chairman of the Legislative Assembly of the Republic of Karelia, Yuri Kancher, First Deputy Head of the Republic of Karelia, Vladimir Khlebalin, Chief of the Administration of the Head of the Republic of Karelia, Alexander Voronov, Chairman of the State Committee of the RK for Youth, Physical Training, Sports and Tourism, Yuri Rafalsky, chairman of the board of directors of The Corporation for Development of the Republic of Karelia, Andrey Smirnov, director general of the corporation and others have taken part in this event.

Andrei Nelidov in his statement has reminded, that development of tourism will form a basis of the strategy of Karelia's development in the next several years. The stake on tourism will allow to create many new jobs not only in Petrozavodsk, but also in regions of Karelia, to provide harmonious development of the republic and to conserve its unique nature. These plans were approved by the President of Russia Dmitry Medvedev that will allow Karelia to take part in a number of federal programs. For this reason most of the projects to be promoted by The Corporation for Development of the Republic of Karelia concern development of tourist infrastructure.

The first large-scale project presented was called Spiritual Transformation of the Russian North. Its purpose is preservation and augmentation of Orthodox and cultural traditions of the Russian North on the basis of spiritual riches of three great islands – Solovki, Valaam and Kizhi. The project provides development of spiritual pilgrimage and cultural tourism in the republic, as well as establishing of a modern center of Orthodox culture on the archipelago of Kizhi commemorating the 300th anniversary of the Kizhi ensemble.

The second project presented is related to carrying out of a regatta and provides construction of a boating center in Petrozavodsk. Within the framework of the project on Warkaus quay it is supposed to build marinas, hotels, an exhibition center, yachts-clubs and a sailing school.

Construction of Yalguba sports-tourist complex is provided by another investment project of The Corporation for Development of the Republic of Karelia. The project includes arrangement of the Alpine skiing slope, construction of a hotel complex and a yacht port.

The complex project of simultaneous development of several tourist objects in Kondopoga region has been called The Land of Sampo. Its purpose is to develop sports tourism. The project includes construction of a large Alpine-skiing resort complex Spasskaya Guba with the capacity of 10,000 people and development of Marcial Waters (Martsialnye Vody) balneotherapeutic health resort.

The Northern Ladoga Lakeside project assumes development of boating in Ladoga skerries. Within the scope of the project reconstruction of a yacht complex in Sortavala and arrangement of ten frames are expected. The project is focused on development of ecological tourism which will allow to conserve the local nature as much as possible.

The other two projects presented concern development of sport in the republic. The first concerns establishing of a sports and tourist base of the Lesgaft National State University of Physical Education, Sport and Health in Lahdenpohja region. The second project assumes creation of a uniform sports center of the republic through further modernization of Spartak stadium in Petrozavodsk.

According to Andrey Smirnov, director general of The Corporation for Development of the Republic of Karelia Inc., in 2011-2012 the corporation plans to implement projects amounting to more than 10 billion roubles. On the part of Karelia co-financing will be the least, most of the funds will be assigned by companies and means of federal programs. There are investors for every projects, a number of agreements has been already signed. The Corporation for Development of the Republic of Karelia will function to support investors in the republic and to assist in implementation of investment projects. Andrey Smirnov has particularly emphasized that the new organization is open for everyone, including republican investors.