MOSCOW, October 5. /TASS/. The accession of new territories, the Donetsk People’s Republic (DPR), the Lugansk People’s Republic (LPR), the Kherson Region and the Zaporozhye Region, to Russia will allow ensuring an increase in economic indicators on the main sectors, whereas Gross Regional Product of new regions will reach 3 trillion rubles ($50 bln) within five years, Russia’s Economic Development Ministry said in a statement on Wednesday.
Moreover, it is planned to pass a federal law on the creation of a common free economic zone for all new territories with preferential treatment for investors, with tax and non-tax incentives guaranteed within its framework, similar to those provided in the free economic zone of Crimea and Sevastopol, according to Deputy Minister Sergey Nazarov.
"The accession of new territories in the Russian Federation will allow ensuring an increase in nationwide indicators on such main sectors as metals industry (by 20%), coal sector (by 6%), grain production (by more than 10%), sunflower (over 20%). Meanwhile, Gross Regional Product of new regions will reach 3 trillion rubles ($50 bln) within five years. The special treatment suggests the exemption from the income tax payment to the federal budget for ten years and the payment of no more than 13.5% to the regional budget," Nazarov was quoted as saying.