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New exemptions on Kuril Islands to help attract foreign investors, says Russian PM

According to Mikhail Mishustin, investors may be exempted from part of taxes and a duty-free zone regime may be introduced on the islands

ITURUP /Sakhalin Region/, July 26. /TASS/. New exemptions for investors introduced on the Kuril Islands will help attract foreign companies, including Japanese ones, and intensify economic operations on that territory, Prime Minister Mikhail Mishustin said when speaking with participants of the fishing industry while visiting Iturup.

Investors on the Kuril Islands may be exempted from part of taxes, PM said. Moreover, a duty-free zone regime may be introduced on the islands.

"I think it would be a good solution for many investors, businessmen and just active people living here. And it would be interesting for western investors, for the same Japan that will be able to create jobs here and work with you if interested," Mishustin said.

Russian PM believes that the introduction of a special treatment for investors on the islands will allow intensifying economic operations in the region.