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State Duma passes law on free economic zone in new regions

It provides for specific features of urban planning and land use when accommodating facilities required for investors to implement projects

MOSCOW, June 20. /TASS/. The State Duma, the lower house of the Russian legislative assembly, approved in the second and the third readings the bill stipulating creation of a special economic zone (SEZ) in Donetsk, Lugansk, Zaporozhye and Kherson regions.

The law establishes a special regime of business and other activity in special economic zones on these territories. It provides for specific features of urban planning and land use when accommodating facilities required for investors to implement projects, a special taxation and insurance contributions regime, and the use of the free customs zone procedure in such regions.

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