Bill on creation of SEZ in Crimea passes first reading at Russia’s State Duma

On November 11, the State Duma of the Russian Federation approved in the first reading the bills on development of the Crimean Federal District and on creation of a special economic zone in Crimea and Sevastopol, says press center of the lower house of Russian Parliament.

Igor Rudensky, Chairman at State Duma Committee for Economic Policy and Innovative Development says the region with its enormous development resources cannot remain a beneficiary region for a long time. The special economic zone in Crimea will let provide investors with a number of tax priviledges. SEZ is to be created for 25 years.