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Crimea and other special economic zones of the world

A draft law regulating the creation of special economic zone in Crimea was submited on October 15

October 15 Russian Prime Minister Dmitry Medvedev signed and submitted to the State Duma (lower house) a draft law regulating the particularities of doing business in certain territories, including Crimea.The aim of this activity is to attract investment, develop transport and other infrastructure, tourism, agriculture and Crimea’s resort zone. It is expected that the special economic regime will include a lower income tax, a lower value-added tax, as well as the cancellation of import VAT. The Crimean leader Sergey Aksyonov said Crimea’s authorities were looking at creating a kind of a Crimean Silicon Valley in the territory of the peninsula.  See other special economic zones in this photo gallery by TASS.