Special Economic Zones in Russia

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The Special Economic Zones in Russia are established by the Russian government to attract foreign direct investment. [1] The privileges of special economic zones last for 49 years, and offer their residents a special legal status resulting in a number of tax and customs preferences. [1]

Contents

Russia has eighteen federal special economic zones (SEZs) and several regional projects. Federal SEZs in Russia are regulated by Federal Law # 116 FZ issued on July 22, 2005. [2]

There are MNCs among investors to Russia's SEZ, such as Yokohama, Cisco, Isuzu, Air Liquide, Bekaert, Rockwool and many others.

History

Federal Law # 116 FZ was issued on July 22, 2005 to regulate SEZs.[ citation needed ]

Open joint-stock company OSJC "Special Economic Zones" was founded in 2006 to accumulate and implement world's best practices in developing and managing SEZ and promote Foreign direct investment (FDI) in the Russian economy. It is fully owned and funded by the Russian state. It managed fifteen to-be federal SEZs.[ citation needed ]

As of March 2010, Russia's federal SEZs host 207 investors from eighteen countries.[ citation needed ]

List of SEZ

As of 2022, there are 45 special economic zones in Russia: [3]

Industrial Production

Technology and development

Tourist and recreational

Logistics

Ports

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A special economic zone (SEZ) is an area in which the business and trade laws are different from the rest of the country. SEZs are located within a country's national borders, and their aims include increasing trade balance, employment, increased investment, job creation and effective administration. To encourage businesses to set up in the zone, financial policies are introduced. These policies typically encompass investing, taxation, trading, quotas, customs and labour regulations. Additionally, companies may be offered tax holidays, where upon establishing themselves in a zone, they are granted a period of lower taxation.

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References

  1. 1 2 "About The Project". eng.russez.ru (in Russian). Retrieved 24 June 2017.
  2. ↑ "Special economic zone "Togliatti"". Trade Delegation of the Russian Federation in the United Kingdom. Retrieved 24 June 2017.
  3. ↑ Russia briefing (18 October 2022). "Russia Establishes Three New Special Economic Zones". Russia Briefing News. Retrieved 7 December 2023.
  4. ↑ "The Cabinet of Ministers approved the creation of new SEZs in Chuvashia and the Volgograd region". AKM EN. 7 November 2022. Retrieved 7 December 2023.
  5. ↑ Sukhankin, Sergey (31 March 2016). "Kaliningrad: Russia's stagnant enclave". ECFR. Retrieved 7 December 2023.
  6. ↑ "A new SEZ will be created in the Kemerovo region". AKM EN. 3 November 2022. Retrieved 7 December 2023.
  7. ↑ "Lyudinovo Special Economic Zone: Advantages and Expected Results". Investment Portal Kaluga Region (in Russian). Jan 25, 2013. Retrieved 7 December 2023.
  8. ↑ Correspondent, Yasmine YahyaSenior Political (26 November 2013). "Russia's Pskov region seeks Singapore investors". The Straits Times. Retrieved 7 December 2023.{{cite news}}: |last1= has generic name (help)
  9. ↑ "Titanium valley special economic zone" (PDF). Retrieved 7 December 2023.
  10. ↑ Kuchumov*, Artur; Karpova, Galina; Voloshinova, Marina; Testina, Yana (28 December 2019). "Challenges And Opportunities Of Development Of Tourism And Recreation Special Economic Zones". European Proceedings of Social and Behavioural Sciences. Social and Cultural Transformations in the Context of Modern Globalism: 1848–1856. doi: 10.15405/epsbs.2019.12.04.248 . ISSN   2357-1330.
  11. ↑ "Togliatti area open for the investments / Investments Potential / English Version". tgl.ru. Retrieved 7 December 2023.
  12. ↑ "China's CNCEC joins Aeon methanol project in Russia". interfax.com. 16 Jun 2023. Retrieved 7 December 2023.
  13. ↑ "TUSUR and the Special Economic Zone of Tomsk". tusur.ru. Retrieved 7 December 2023.
  14. ↑ "Special Economic Zone". en.baiksez.ru. Retrieved 7 December 2023.
  15. ↑ "Russian Federation - Adoption of federal law granting Vladivostok "free port" status | Investment Policy Monitor | UNCTAD Investment Policy Hub". investmentpolicy.unctad.org. 13 Jul 2015. Retrieved 7 December 2023.
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