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Yakutia's Arctic Zone business residents plan $78 million investments

The new businesses will offer 682 new jobs

YAKUTSK, March 28. /TASS/. Business residents of the Russian Federation's Arctic Zone will implement in Yakutia 14 projects with investments of 6 billion rubles ($78 million) and more than 600 new jobs, Yakutia's Deputy Minister for Development of Arctic and Affairs of the Peoples of the North Mikhail Pogodayev said on Tuesday.

"In compliance with the law on state support for businesses in the Arctic, business residents of the Arctic Zone enjoy incentives. Presently, we have 13 companies working on 14 new projects in the Arctic districts," he told a roundtable meeting of regional municipal deputies.

The businesses will offer 682 new jobs, he added.

In the Far East, businesses may become residents of preferential regimes - advance-development territories, Free Port Vladivostok, the Russian Federation's Arctic Zone - and enjoy certain incentives, including lower social taxes, zero income, land and property taxes, and a free customs zone.

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