Mishustin: the government will introduce a bill on the creation of a special economic zone in new regions

Russian Prime Minister Mikhail Mishustin, during the government’s report to the State Duma, said that a free economic zone (FEZ) would be created in the new regions of the country – the Donetsk People’s Republic, the Lugansk People’s Republic, the Kherson and Zaporozhye regions.

“Tomorrow, March 24, at a government meeting, we will consider a bill on creating a free economic zone in these regions. And we will submit it to the State Duma,” said the chairman of the Russian government, adding that the authorities are already actively working to restore the industrial and economic potential of new regions.

Mr. Mishustin stressed that Russian President Vladimir Putin has set the task of bringing new regions to the all-Russian level in all indicators in eight years.

As previously reported, a special entrepreneurial regime in the FEZ on the territory of new regions will include a special taxation procedure and the possibility of providing subsidies for reimbursement of the interest rate on loans – up to 100% of the refinancing rate of the Bank of Russia. A free customs zone will also be established. Thus, foreign equipment imported into the territory of the FEZ for the implementation of the investment project will be exempted from paying import customs duties.

Alexander Kislov