State support granted to investment subjects for investment project or a business plan realization (Outline)

Step 1 - A specialized institution (company) performs a comprehensive analysis of the investment project (business-plan) an issues its conclusion. This step is followed only in case the competition documentation presupposes this.

Step 2 - The investment subject sends in a set of application documents for the competition in investment projects (business plan) selection.

Step 3 - The Consultative board transfers the documents set to the Department of Economic Development for comprehensive analysis.

Step 4 - The Department of Economic Development transfers the documentation set to the executive body of the corresponding industrial branch for technical and economic assessment.

Step 5 - The executive body of the corresponding industrial branch performs technical and economic assessment of the investment project (business plan) based on the documentation presented by the Department of Economic Development and then prepares the report on the assessment.

Step 6 - The Department of Economic Development performs comprehensive social-economic efficiency evaluation based on the technical-and-economic assessment report. The department then prepares its report for the Consultative board.

Step 7 - The Consultative board taking into consideration the assessments of the investment projects selects the projects liable for state support based on the projects' compliance with the guidelines of the oblast's economic development.

Step 8 - Based on the decision of the Consultative board the oblast Government issues decrees of issuing state support to the investment subjects, winners of the competition.

Step 9 – Based on the oblast Government decrees the oblast's Department of Finance and/or Department of State Property draw the agreement of granting state support with the investment subject.