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  • THE FAR EAST DEVELOPMENT CORPORATION CONCLUDES AGREEMENTS WITH NEW ASEZ AND FREE PORT VLADIVOSTOK RESIDENTS FOR RUB 24 BN

    01 September 2016

    On the eve of the Eastern Economic Forum, a public signing was held of agreements with 21 residents of special economic regime areas in the Far East, according to an announcement by the Ministry for Development of the Far East.

    18 projects have been implemented at Free Port Vladivostok and 3 in priority development areas, creating over 2.2 thousand jobs.

    New enterprises will appear in the ASEZs Khabarovsk, Nadezhdinskaya and Yuzhnaya. They relate to such spheres as agriculture, light and heavy industry. Representatives of big, medium-sized and small business will enjoy tax benefits and administrative support.

    “The conditions for obtaining the status of a ASEZ or FPV resident are transparent and simple: creation of a new business that complies with types of activity permitted by law and a minimum investment of RUB 500,000 in a ASEZ and 5 m in Free Port. Consequently, just a year later, we see a real result: 11 different projects implemented to the tune of about RUB 11 bn in aggregate investment and one and a half thousand jobs created. Each of these is a successful example for potential residents currently at the decision-making stage,” said Denis Tikhonov, General Director of AO Far East Development Corporation.

    Since the Federal Laws on ASEZs and FPV came into effect, the Corporation has received applications totalling RUB 694 bn from 295 investors. Implementation of the investment projects in the ASEZs and FPV has resulted in over 51 thousand new jobs in the Far East. Resident status has now been received by 176 companies investing a total of more than RUB 523 bn and planning to create more than 40 thousand jobs.