RF Prime Minister Dmitry Medvedev

- This is a challenging goal – to take a respectable place among the leading centres of the Asia Pacific region like Singapore and Hong Kong.

A free port would be established in an area spanning 13 municipalities, including the administrative area of Vladivostok, the seaports of Zarubino and Nakhodka, and an airport, which provides international service to the Primorye Territory with rich Chinese provinces, and generally, with our neighbours. We are determined to take a number of steps to have this free port up and running.

First, granting fiscal preferences to residents and discounts on income tax for five years.

Second, we would reduce aggregate deductions to state extra-budgetary funds. However, this requires further consideration, as it involves the loss of revenue for these funds and therefore for the municipalities. The brunt will be borne by the federal budget.

Third, a simplified visa procedure would be introduced in the free port of Vladivostok, as a result of which foreign guests would be able to get an eight-day entry visa right at the border. Border crossing points would operate around the clock.  

Fourth, customs would work on a one-stop service basis, providing customs, border, veterinary and plant disease oversight and other services. We plan to introduce a free customs zone regime, which will, for example, exempt imported equipment from import duty and VAT.

Fifth, the Government will have the authority to introduce special working conditions for educational and healthcare establishments as well as for a number of enterprises, including fishing companies, which would open access for foreign companies to these areas of activity in the territory of our country. This will facilitate their operation and, most importantly, investment projects.  

Another important change would be that all inspections of resident company operations (scheduled or spot inspections) would be conducted only under a special procedure, subject to approval by an industry- specific department.

Finally, a special oversight board would be established that would include, among others, government and business representatives. The draft law will be finalised in short order and submitted to the State Duma.

Transcript of Dmitry Medvedev’s opening remarks at the Government meeting.

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