Russian State Duma passes law to establish an international advanced development zone in the Far East
The Russian State Duma passed the bill in the second and third readings, laying the legal foundation for establishing and operating an international advanced development zone in the Far East region.
The bill aims to create favorable conditions for international cooperation in the Far Eastern Federal District and the implementation of joint investment projects in the industrial sector with foreign partners.
Newly established Russian legal entities (including those established with participation from foreign individuals and legal entities) can become resident enterprises in the international advanced development zone.
The investment projects of the resident enterprises in the international advanced development zone should have an investment amount of no less than 500 million rubles, and should produce high-value-added products or engage in work (providing services) of types determined by the Russian government.
The new law will come into effect on January 1, 2026.
The Russian government submitted the draft law to the State Duma in December 2023 to lay the legal foundation for establishing the international advanced development zone, and it was passed in the first reading in February 2024. The bill proposes to incorporate the concept of "international advanced development zone" into the Law on Advanced Development Zones of the Russian Federation.
Original: https://www.toutiao.com/article/1837938575197260/
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