Alexander Novak chaired a meeting of the Intergovernmental Commission on Socio-Economic Cooperation between Russia and South Ossetia
Alexander Novak chaired a meeting of the Intergovernmental Commission on Socio-Economic Cooperation between Russia and South Ossetia. With President of the Republic of South Ossetia Alan Gagloyev
Alexander Novak and President of the Republic of South Ossetia Alan Gagloyev
Alexander Novak chaired a meeting of the Intergovernmental Commission on Socio-Economic Cooperation between Russia and South Ossetia
Deputy Prime Minister Alexander Novak co-chaired the 23rd meeting of the Intergovernmental Commission on Socio-Economic Cooperation between Russia and South Ossetia. The event took place on the sidelines of the 2nd Caucasus Investment Forum in the city of Mineralniye Vody. President of the Republic of South Ossetia Alan Gagloyev, as well as representatives of Russian and South Ossetian executive agencies, took part in the meeting.
Alexander Novak highlighted that Russia and South Ossetia were close friends and time-tested allies. During the meeting of the intergovernmental commission, the sides summed up the results of joint work and charted guidelines for future cooperation.
“It is necessary to determine the most effective investment incentives for attracting additional investment into the republic, as well as measures to support small and medium-sized businesses and to eliminate infrastructure restrictions for implementing investment projects in the republic. I hope that planned economic growth parameters will be attained by 2030, provided that the South Ossetian and Russian sides work hand in hand. Jobs will be created, and wages will increase steadily in various economic sectors. Consequently, the republican budget will receive additional tax proceeds, and the country’s overall living standards will improve,” Alexander Novak said.
The participants discussed a draft state programme for the socio-economic development of the Republic of South Ossetia in 2026–2030, its main parameters and events, as well as planned key targets, the necessary volumes of financial support and possible sources of financing the programme’s measures. They also reviewed conditions for implementing investment programmes and the integration process in the customs and taxation spheres.
