First five agreements on carrying out activities at the Free Port of Vladivostok were signed by Denis Tikhonov, Director General of Far East Development Corporation, on March 16, 2016. According to the statement of the Corporation, new residents will invest RUB 1.334 bln into the economic development of Russia’s Far East.
The agreements were signed with Vladivostok Fishing Terminal LLC, Primring LLC, ERZO LLC, Mentor LLC and Kaskad LLC. With the implementation of new projects the Primorje will obtain a state-of-the-art refrigerating and storing infrastructure for transshipment and storing of fish products, sport and tourism complex, innovative facility for recycling of tires, modern logistic center and agricultural enterprise. All in all the companies will create over 630 jobs.
As of today the Corporation has obtained 54 applications from potential residents for total amount of over RUB 124 bln. More than 5,000 jobs are to be generated under those projects.
Federal Law of the Russian Federation (No 212-FZ) "On the Free Port of Vladivostok", came into force on October 12, 2015. Free Port regime provides for a wide range of preferences and tax benefits.
To acquire a status of FPV resident a company must be incorporated within the territory of Vladivostok Free Port and invest at least RUB 5 mln within 3 years.
Far East Development Corporation JV was defined by RF Government as a company to manage Priority Socio-Economic Development Areas (PDAs) and the Free Port of Vladivostok, 100% of which is held by the Russian Government.
Related links:
Yury Trutnev orders to simplify obtaining of Free Port of Vladivostok resident's status >>>>
Potential investors of Free Port of Vladivostok submit 10 applications for total amount of RUB 62 bln >>>>