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Investments in Crimea’s free economic zone exceed $1.69 bln — region’s head

November 06, 20:49 UTC+3 SIMFEROPOL

More and more European partners are set for mutually beneficial cooperation, despite the sanctions

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Crimea’s Head Sergei Aksyonov

Crimea’s Head Sergei Aksyonov

© Alexander Rumin/TASS

SIMFEROPOL, November 6. /TASS/. Overall investments to Crimea’s free economic zone have exceeded 100 billion rubles ($1.69 billion) since early 2015 when it was established, Crimea’s Head Sergei Aksyonov told the Friends of Crimea Forum, an international conference, held in Yalta on Monday.

"The volume of investments in the free economic zone has exceeded 100 billion rubles and the number of its residents has exceeded one thousand. Notably, they include foreign, including European, residents. However there are not that many of them as would like to have," he said.

According to Aksyonov, more and more European partners are set for mutually beneficial cooperation, despite the sanctions. "Far-sighted foreign businessmen choose mutually beneficial cooperation instead of ideological chimeras. They are looking for ways to establish such cooperation already now. The more so as there are possibilities to work on the peninsula bypassing the sanctions, not hyping one’s presence in this region," he said.

The free economic zone in Crimea was set up in 2015. Residents are exempt from property taxes for a term of ten years and from land taxes for a term of three years, and enjoy lower income tax rates and insurance contributions.

The international conference, "Crimea in the Modern International Context. The Friends of Crimea Forum," opened in Yalta on Monday. The forum has brought together almost 90 delegates represented by political figures, incumbent ministers, members of the leadership of ruling parties, deputies of the parliaments of foreign countries and former ministers. As was reported earlier, delegations from 20 countries would come to the forum. The actual number of the countries represented at the forum is over 30.

The Friends of Crimea Forum was set up as an experimental site to coordinate interests and compare the viewpoints of representatives of political and cultural elites from various countries and representatives of the civil public.

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