It is necessary to develop local economy, therefore it is more important to attract domestic businesses to the Free Port of Vladivostok, IAA PortNews correspondent cites Deputy Prime Minister Yury Trutnev, Presidential Plenipotentiary Envoy to the Far Eastern Federal District, as saying at the 3rd meeting of the Supervisory Board of the Free Port of Vladivostok held in Vladivostok on March 24.
Commenting on the composition of FPV residents with regional companies accounting for 99% Yury Trutnev emphasized that the Free Port is open for worldwide business though it was created primarily to support the initiatives of Russian entrepreneurs.
“Today, 36 companies are Free Port residents including seven residents approved earlier and those which have obtained their official certificates today. They represent different economic segments. Total amount of investments exceeds RUB 100 bln. I believe it is a good contribution to the development of the regional economy. As for foreigners, on the one hand, they are cautious, perhaps. On the other hand, they are not confident due to poor understanding of Russian legislation. I hope that our work will facilitate the changing of this situation and local businesses will be followed by foreign investors”, said Yury Trutnev.
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.
The list of FPV residents (in Russian) is available here >>>>
Related link:
29 companies obtain status of Free Port of Vladivostok residents, investments estimated at RUB 85 bln >>>>