The entire Far East can become a single territory of advanced development
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In the Far East, a single territory of advanced development (TOR) can be created, Deputy Prime Minister – Plenipotentiary of the President of the Russian Federation in the Far East Yury Trutnev said on Thursday. According to him, such a proposal was previously supported by Prime Minister Mikhail Mishustin.
“Mikhail Mishustin and I discussed the further improvement of work in the TOP. We made a proposal to create a single ASEZ in the Far East: in order not to adopt new resolutions each time regarding the creation of separate ASEZs, we proposed to make the entire territory of the Far East a territory of advanced development, ”Trutnev told reporters (quote from Interfax).
TASED (or TASED – territories of advanced socio-economic development) are special economic zones, for residents of which there are various administrative preferences and tax benefits, including income tax, land and property. More than 20 such preferential regimes have now been created in the Far East.
The Accounts Chamber, in a report published in February, indicated that most of the ASEZs in the Far Eastern regions had passed the initial stage of development (5-6 years) and began to contribute to the economic development of the Far Eastern Federal District: as of December 1, 2021, the volume of attracted private investment amounted to 399.8 billion rubles ., created 38,300 jobs. Based on the results of an analysis conducted jointly with experts from the Center for Spatial Analysis and Regional Diagnostics of the IPEI RANEPA, the control agency came to the conclusion that municipalities with the ASEZ regime, on average, developed faster than without it.
In the Far East, 22 priority development territories have now been created, each of which covers some part of the region and has its own specialization, said Tatyana Tirskikh, junior director for sovereign ratings at Expert RA. The creation of a single ASEZ, which provides uniform tax benefits and preferences, will be a plus for future residents when making decisions on the implementation of an investment project in a particular territory, she believes.
In addition, this will create a unified management process that will accelerate the attraction of direct investment, including foreign ones, the growth of business activity and the development of small and medium-sized businesses, Tirskikh added. As a result, in her opinion, the achievement of a comparable or even ahead of the average Russian pace of socio-economic development of the regions of the Far East will also be accelerated.
TASED, as a rule, were created near single-industry towns or settlements that need to stimulate new investments, the regime usually did not affect large cities, Maxim Pershin, Deputy Director of the ACRA Sovereign and Regional Ratings Group, noted. The extension of tax incentives and support measures provided for TASED to the entire federal district, in his opinion, can attract significant investment in the region. But, since TASED assumes a preferential tax regime, including on income and property taxes, which form a significant part of regional budget revenues, the expansion of territories can lead to the formation of shortfalls in revenues for the regions of the Far Eastern Federal District, the expert warned.
The Far East should now objectively become a territory of advanced development, believes Vladimir Salnikov, head of the real sector of the TsMAKP. In the current conditions, the countries with which Russia can develop cooperation are more likely to be located in the East, so the center of economic activity should shift, he explained. In recent years, despite all the efforts of the authorities, the Far East, if not lagging behind in development, then definitely did not develop comprehensively, the expert stated.
Such a decision is relevant today for the Far East, taking into account the reorientation of logistics flows to the east, the restructuring of sales markets and establishing ties with Asian countries, the need to develop large infrastructure projects, Olga Torbich, deputy head of the Spatial Development direction of the Center for Strategic Development, agrees. Thus, the development of existing enterprises in the region will be stimulated, new proposals will appear for partners to participate in investment projects related to building the entire production chain and developing the territory, the expert added.
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