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Medvedev approves list of Russia’s 20 regions for setting up territorial development zones

The document was drafted by the Russian Economic Development Ministry

MOSCOW, April 16 (Itar-Tass) - Russian Prime Minister Dmitry Medvedev has approved a list of 20 Russian regions, where territorial development zones may be created, the government’s press service said on Tuesday.

A territorial development zone is a part of a Russian region, where a special legal order for the implementation of the state support measure regarding the zone’s residents will be imposed in order to boost the social and economic development of the region through the creation of favourable conditions for the drawing of investments in its economy, the press service said.

The special legal status of the zone envisages for its residents certain tax preferences and tax credits, budget assignments from the Russian Investment Fund for the implementation of investment projects in the territorial development zone, as well as preferences for residents in the leasing of lands, in the setting up of energy and transport capital facilities, which may be necessary for residents’ business activities and other measures of state support.

The document was drafted by the Russian Economic Development Ministry.

The document was posted on the official website of the Russian government.

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