The Far East and Arctic Development Corporation (FEDC) summarised the development progress of the Arctic Zone of the Russian Federation (AZRF) in 2023. According to statistics, as of early December this year, the increase in new AZRF residents amounted to 72 projects, up from 47 in the previous year. The total anticipated investments surpassed 9.7 billion rubles, which is nearly 4 billion rubles more than in 2022. The number of jobs created in 2023 was up by almost 500 compared to the last year, totaling 1,796. The volume of actual investments also saw an increase: it had been recorded at 3.7 billion rubles in 2022, while in 2023, investors provided almost double that amount, totaling 7.2 billion rubles.

The overall trend in the development of the Russian Arctic shows a steady growth in the number of projects being implemented by residents of the special economic zone. The Arkhangelsk Region is among the leaders for the number of new companies and volume of investments in 2023. It became home to 33 new projects with an investment volume of 3.8 billion rubles. Of these, 14 are related to the service or tourism sector, six to the construction and development sector, and four to the medical industry. Two new enterprises each emerged in mechanical engineering components production, timber industry, and logistics (warehouse complexes). Additionally, two projects were implemented in the housing and utilities sector (construction of a boiler house and reconstruction of heating networks), and one resident purchased and modernised a goat breeding farm. The total number of new jobs currently stands at 1,147, and this number is expected to increase to 1,566 once all the projects have reached planned capacity. The most significant project in terms of investments in the Arkhangelsk Region is the establishment of a bus park by LLC TK Riko, costing over 2.6 billion rubles.

The Murmansk Region ranks second, with 17 new projects worth 2.9 billion rubles. Nine of them relate to the tourism or services sector, with the most expensive project being the Sokroma Hyperborea spa hotel in Kirovsk, which cost 218 million rubles and was completed in May 2023.

Another five projects are related to the construction and development industry, with one project each in the mining, fishing, and IT sectors. The largest investment project in the Murmansk Region is a new crabbing vessel from Froster LLC, which required investments of 2.4 billion rubles.

The Yamalo-Nenets Autonomous District ranks third in terms of the number of implemented investment projects, with seven new residents in 2023. The Komi Republic ranks fourth, with six new residents in 2023. Five of them decided to establish businesses in the service sector, while one started addressing the longstanding issues of Class 1–5 waste disposal.

The majority of AZRF residents in 2023 chose the services and social sector as their business direction. This primarily includes restaurants, bars, and other food service establishments, as well as gas stations and roadside infrastructure facilities. There are a few hotels too. Investments in this sector range from 1 million to 2.6 billion rubles. Development follows next, with investments ranging from 1.2 million to 819 million rubles, while tourism ranks third in popularity with investments ranging from 5 million to 218 million rubles.

Based on the latest FEDC statistics, it can be stated that in 2023, AZRF residents primarily focused on improving the Arctic—the harsh Polar regions are gradually becoming more comfortable with new leisure facilities, housing, and entertainment opportunities. Instead of an icy desert where shift workers and reindeer herders have to dwell, the Russian North is acquiring characteristics similar to the "main land." Importantly, the entry threshold for many projects is quite low, and the support system for new businesses is flexible enough to be beneficial for both local manufacturers and large entrepreneurs.

Currently, the AZRF has 695 registered residents who plan to invest 838.5 billion rubles and generate over 26,200 jobs. The actual investments total 120.1 billion rubles, with over 6,000 northerners employed in the newly established businesses.