Civic Chamber of Russia supports Bill on Free Port of the Far East

Draft Federal Law on Free Port of the Far East passed ‘zero level reading’ at the Civic Chamber of the Russian Federation, says the press center of the Ministry for the Development of the Russian Far East. The Civic Chamber also considered possible amendments into certain legislative acts and the Tax Code of the Russian Federation in view of the new Law.

According to Aleksandr Osipov, First Deputy Minister for the Development of the Russian Far East, the bill was drafted on the presidential instructions. As Vladimir Putin said at the Far Eastern Economic Forum “we have succeeded in finding a good, competitive formula for a free port, drawing on our own historical experience and on best international practice, and I therefore propose that the Government consider the question of extending the free port regime to other major ports in Far East”.

Draft Federal Law on Free Port of the Far East has been developed by the Ministry for the Development of the Russian Far East and placed for public discussion at the Federal Portal for Draft Regulations. The Draft Law is based on the Federal Law on Free Port of Vladivostok which came into effect on October 12, 2015. 

According to Aleksandr Osipov, the new law will be a natural development of the legal framework required for creation of favorable investment environment. 

The Free Port of the Far East is to cover the territory of 14 municipalities of 1,058 thou square kilometers. It is to include Free Port of Kamchatka (Petropavlovsk-Kamchatsky and adjacent municipalities),  Free Port of Khabarovsk (including Vanino, SovGavan, De-Castri, Nikolayevsk-on-Amur), Free Port of Sakhalin (Korsakovsky, Nevelsky and Kholmsky city districts as well as two seaports – Kholmsk and Korsakov), Free Port of Chukotka (Anadyrsky, Iultinsky, Providensky and Chaunsky municipal districts as well as 5 seaports – Anadyr, Provideniya, Beringovsky, Pevek and Egvekinot).

The Supervisory Board is to be a sole governing body of the Free Port of the Far East.