Concessionaires will get simplified access to privileges of special economic zones

The Government of the Russian Federation has supported a bill developed by the Russian Ministry of Economic Development, which allows businesses to combine the benefits of a concession and special economic zones. This was announced by the Minister of Economic Development of Russia Maxim Reshetnikov at a meeting of the Government of the Russian Federation.

“We support the implementation of major infrastructure development projects in the SEZ. It is important to preserve the land for an investor who is ready to invest heavily in infrastructure. For the concessionaires themselves, we establish a preferential rent for land, exclude additional examination of the project and thereby reduce the period for obtaining resident status by a factor of three,” the minister noted.

According to Maxim Reshetnikov, the administrative burden is reduced, the checks of the investor as a resident and as a concessionaire are synchronized. Business responsibility is being increased to encourage residents to do quality work, mutual tasks are being fixed and agreement parameters are being set that the parties are required to reach.