• 2017 May 30 09:52

  RF Government approves decision on investment quotas

  

  RF Government approves decision on investment quotas. According to Russian Federal Fisheries Agency, Prime Minister Dmitry Medvedev has signed the decisions dated 25 May 2017 (No632, No633) regulating the selection of investment projects and requirements to investments.
  
  The legislation covers fishing ships built by Russian shipyards and fish processing plants built in Russia under investment projects.
  
  According to the requirements, the cost of goods, works or services acquired/delivered in Russia in the course of building and commissioning of ships should make at least 30% of total costs if applications for investment quotas are submitted before 2020 and at least 40% if applications are submitted after 2020.
  
  As for coastal plants, investment projects should be implemented in the territory of Russia, within the coastal region neighboring the fishing basin for which investment quotas are provided.
  
  Applicants are to provide a bank guarantee or confirm the right for catching aquatic bioresources.
  
  Ministry of Industry and Trade is in charge of control of investment projects implementation.
  
  

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