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MIL OSI Translation. Region: Russian Federation –

Source: Ministry of Economic Development (Russia) – An important disclaimer is located at the bottom of this article.

The SEZ mechanism is no longer just a preferential regime, but an institution for attracting capital. Any private capital is looking for high profitability and reliability of its investments, and finds this in special economic zones. This was announced by Deputy Minister of Economic Development of Russia Dmitry Vakhrukov in the State Duma of the Russian Federation at the expert council on the development of SEZs as part of the opening of the exhibition “Special Economic Zones as an Effective Tool for Economic Development.”

“We continue to develop the SEZ mechanism, we will maintain key benefits for the SEZ, and invest in the development of infrastructure and production space. This institute has proven itself and paid off for the budget. Our next step is to ensure extensive growth and dissemination of the SEZ mechanism, coverage of new promising locations, and attraction of additional volumes of private investment,” the deputy minister noted.

First Deputy Chairman of the State Duma Alexander Zhukov noted that today the declared volume of private investment is about 6 trillion rubles and 1 trillion rubles of actual investments. “Special economic zones serve not only as a place where new high-tech industries are created, but also new jobs. The SEZ’s revenue volume is already quite decent. And this is a rather important and interesting mechanism that serves to strengthen Russia’s technological sovereignty,” emphasized Alexander Zhukov.

During the meeting of the expert council, participants summed up the work of 2023 and assessed the effectiveness of the application of preferential regimes.

The director of the regional development department of the Russian Ministry of Economic Development, Vitaly Altabaev, said that 53 SEZs have already been created in 45 regions of Russia, and 177 new residents have been registered in 2023. There are 1,200 resident companies in total.

“This year, 3 SEZs were created: Rostov in Novocherkassk, Emmauss in the Tver region, and Sistema in the Republic of Mordovia. We expanded 3 SEZs “Lipetsk”, “Kaluga”, “Uzlovaya” in the Tula region.” The positive budget effect accumulated over all the years is already more than 57 billion rubles. The multiplicative contribution to GDP is 888 billion rubles. For us, these are indicators of effective work, we expect growth in all key indicators,” noted Vitaly Altabaev.

The event was moderated by Denis Kravchenko, First Deputy Chairman of the State Duma Committee on Economic Policy.

According to him, special economic zones are one of the most effective tools for creating a favorable investment climate in the country.

“SEZs allow the development of regional territories directly, provide good incentives and impulses to entrepreneurs, and generally fit into the overall strategy for the development of the Russian economy. Special economic zones contribute to the development of local enterprises, especially under sanctions pressure, when more support from the state is needed – something that entrepreneurs need,” commented Denis Kravchenko.

Director of the Association of Clusters, Technoparks and Special Economic Zones of Russia Mikhail Labudin said that today preferential regimes in Russia are rapidly developing. Particular attention is paid to special economic zones, which are an effective tool for regional development.

“However, for the successful functioning of special economic zones, an integrated approach and the use of various methods and tools are required. In particular, many management teams of special economic zones are thinking about developing not only the infrastructure that is directly aimed at developing the potential of residents, but also personnel and logistics. In this regard, the legislation regulating special economic zones is also changing and improving. This is necessary in order to quickly attract investment, implement investment projects and create new jobs,” emphasized Mikhail Labudin.

Note; This information is raw content directly from the source of the information. This is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

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

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