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  • Vladimir Putin signed law to include water areas into PDA limits
  • 2019 July 29 14:53

    Vladimir Putin signed law to include water areas into PDA limits

    Russian President Vladimir Putin has signed the Federal Law “On introduction of amendments into the Federal Law “On territories of priority social and economic development in the Russian Federation” and certain legislative acts of the Russian Federation”. The document available at the official portal for legal information will let improve the environment for investment activities in priority development areas (PDA) with the ability to include surface areas of water bodies into PDA limits.

    According to the State Legal Administration, PDA residents are entitled to use water bodies as stipulated by the Water Code of the Russian Federation and other federal laws.

    The newly signed document elaborates some provisions of the Federal Law “On territories of priority social and economic development in the Russian Federation” According to the Federal Law special legal regime does not cover organizations extracting oil, gas and (or) gas condensate, producing and selling wood,  running banking, insurance or clearing businesses as well as organizations being professional participants of the security markets or non-governmental pension funds.

    This requirement will be only applicable to new projects.

    Besides, the Federal Law defines more precisely the regulations for creation and managing of PDA including those within mono-cities, legal status of PDA residents and specific implementation of their activities as well as state and municipal control (supervision), etc.

    The document is available in Russian at the website of IAA PortNews >>>>




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