The Ministry of the economic development of the Murmansk region is the executive body of the Government of the Murmansk Region, performing the functions of development and realization of the state policy of the Murmansk Region as well as normative legal regulations in the spheres:

- social-economic development evaluation, forecasting and strategic planning, development and implementation of a programmes of social- economic development of a region;

- management by objectives of the state administration of social economic development including  result-oriented management;

- forming of the long-term target programmes;

- development of the enterprise and state support of small and medium business;

- investment activity and government investments;

- scientific-technical and innovative activity;

- regional taxes and tax concessions, financial restructuring of enterprises.