2015 December 4 14:37

Potential investors of Free Port of Vladivostok submit 10 applications for total amount of RUB 62 bln

By the second meeting of the Supervisory Board of the Free Port of Vladivostok, potential investors have submitted 10 applications for total amount of RUB 62 bln, says Vasily Usoltsev, First Deputy Governor of the Primorsky Territory.

According to him, first results of the best practices aimed to support businesses within a particular territory have been seen at the Free Port of Vladivostok since the Law came into effect two months ago. Tax and administrative privileges as well as the geographic advantages of the region attract large Russian and foreign investors.

First applications come from the ports, different logistic center and industrial parks focused on exports, Vasily Usoltsev said.

The Supervisory Board of the Free Port of Vladivostok held its first meeting on October 21, 2015. The second one is to be held in the nearest time.

“We have already received over 10 applications from potential residents of the Free Port of Vladivostok. Total value of the investment proposals is RUB 62 bln”, the Vice-Governor said.

Vasily Usoltsev has expressed confidence in the Law on Free Port to give a powerful impetus to the development of the Primorsky Territory economy. He also expects the relax visa requirements set forth by the document to attract more tourists to the region.

Federal Law on the Free Port of Vladivostok came into effect on October 12, 2015. The free port legislation will be applicable for 15 municipalities of the Primorsky Territory including their water areas. Total area of the free zone is 28,400 square kilometers with population of 1.4 mln people.

As , Vladimir Putin said on December 3 during the Annual Presidential Address to the Federal Assembly, investors had shown great practical interest in the new methods of operation proposed in the Far East, including the free port of Vladivostok and priority development areas.

“The Northern Sea Route should become a link between Europe and the Asia-Pacific Region. To enhance its competitiveness, we will extend the preferential regime of the free port of Vladivostok to key Far Eastern harbours, as requested by the entrepreneurs who operate in this strategically important Russian region. The socioeconomic development of this region is a major national priority. Investors have shown great practical interest in the new methods of operation we have proposed, including priority development areas.”, the President emphasized.

Related links:

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Putin says preferential regime of the free port of Vladivostok to be extended to key Far Eastern harbours >>>>