Last week came into effect changes in Russian legislation concerning special economic zones (SEZ). According to the newly introduced amendments now such zones will be created not for 20 years (as before), and 49. At the same time during 2012 the existing SEZ (which include the project «Titanium Valley») will extend its own «life span» before the above-mentioned period, which will allow investors to invest in such projects, longer enjoy the benefits promised by the government.
In addition to extending the life of the special economic zones, the Russian government has made adjustments to other aspects of their life. In particular, the new rules under the SEZ industrial type can be formally allocate plots to 40 sq km, whereas previously the area of the zone can not exceed 20 000 square meters. In addition, in the «free zones» are now legally allowed the formation of industrial clusters (groups of mutually complementary companies that enhance the competitive advantages of the residents). And for some types of special economic zones introduced additional benefits (zero income tax paid to the federal budget).
According to the Government of the Sverdlovsk region, new conditions for SEZ investors will help to optimize the work of attracting capital to the project «Titanium Valley», the main promotional activities which are planned for the current year.