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Decree of July 8, 2021 No. 1145

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Decree of July 8, 2021 No. 1145

A special economic zone (SEZ) of an industrial and innovative type will be created in the Novgorod region. The decree on this was signed by the Chairman of the Government Mikhail Mishustin.

The total area of ​​the SEZ will be more than 180 hectares. On its territory, enterprises for the production of drugs based on monoclonal antibodies, microelectronic products, and semi-trailers will be opened. It is also planned to launch factories for the processing of rapeseed, the production of heat and sound insulation materials.

It is expected that companies that have received the SEZ resident status will invest about 8 billion rubles in the region’s economy and create more than 700 jobs.

The territory allocated for the SEZ is partially equipped with engineering and transport infrastructure. Its further arrangement will be taken up by the regional authorities. The cost of these works is estimated at 1.3 billion rubles.

Special economic zones are formed for the development of the manufacturing industry, high-tech industries, tourism and port infrastructure. Accommodation in the SEZ gives business a number of advantages. First of all – well-established infrastructure and communications. It is also about minimizing administrative barriers, tax benefits and customs preferences.

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

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