2016 March 24 09:42

29 companies obtain status of Free Port of Vladivostok residents, investments estimated at RUB 85 bln

The 3rd meeting of the Supervisory Board of the Free Port of Vladivostok chaired by Deputy Prime Minister Yury Trutnev, Presidential Plenipotentiary Envoy to the Far Eastern Federal District, was held in Vladivostok on March 24. The decisions will be made on other potential residents. The status of residents of Free Port of Vladivostok was granted to 29 companies with investments under the approved projects totaling RUB 85 bln, says Far East Development Corporation.

The projects will generate over 3,000 jobs in the Primorsky Territory.

“Free Port of Vladivostok should be open for investors. We have now approved 29 projects which is just the beginning. Unique conditions for business activities are created in the Primorsky Territory. We hope that investors will appreciate it and we will provide them with an extensive support”, said Yury Trutnev.

The meeting participants also discussed issues related to land tax for FPV residents.

The largest of the logistic projects approved at the meeting is focused on creation of a coal terminal for export shipments to APR countries. There are also projects on fish processing and sea-farming. Besides, there are project on assembling elevators, production of electrical devices, bicycles, reinforced concrete slab, plastic and even sugar.

As of today the Corporation has received 54 applications from potential residents for total amount of over RUB 147 bln. More than 5,200 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:

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