News

Three more special economic zones will appear in Russia

Russian Prime Minister Mikhail Mishustin signed resolutions on#nbsp;the creation of#nbsp;three new special economic zones (SEZs) (in#nbsp;the Mordovia, Rostov, and Tver regions) and the expansion of#nbsp;two existing SEZs (in#nbsp;the Kaluga and Lipetsk regions).
Today, 50 SEZs are operating in#nbsp;Russia (31 industrial-production, seven technology-implementation, 10 tourist-recreational, and 2 ports)

A#nbsp;SEZ is#nbsp;a#nbsp;part of#nbsp;a#nbsp;region's territory where a#nbsp;preferential regime for business activities operates, and a#nbsp;free customs zone procedure can also be#nbsp;applied.

SEZs are created to#nbsp;develop the manufacturing and high-tech sectors of#nbsp;the economy, tourism, health resorts, port and transport infrastructure, technology development and commercialization, and the production of#nbsp;new types of#nbsp;products.

A#nbsp;business's location in#nbsp;a#nbsp;special economic zone offers several advantages: residents can enjoy tax benefits and customs preferences and also count on#nbsp;reduced rental payments.