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The Ministry for Economic Development Drafts Special Economic Zone Criteria

29.02.2012 19:06 / Interfax

The Ministry for Economic Development has drafted Special Economic Zone (SEZ) Criteria for the Russian government.

Fccording to the SEZ Act, the Government decision to establish a SEZ is based on the list of approved criteria.

The document, available on the ministry website, lists compliance with the priorities of territorial development as per 2020 Development Plan as the first criterion.

The second requirement is economic and geographical advantages for investment projects.

Also, the region has to have experience in successful implementation of major investment projects with domestic and foreign investors.

Existing investment projects and potential investors ready to work in the zone are also a must, with budgets adequate to the necessary federal and local budgets.

The presence of at least one company, intending to perform management functions and ready to account for a minimum of 50% non-budget investment in the creation and functioning of the special economic zone.

One of the criteria is internal and external engineering, transport, social and other infrastructure.

Today, there are 25 functioning and emerging SEZs of various types in Russia, with 307 investors taking part. The residents of these zones have invested a total of RUB 360bn. In 2011, the special economic zones attracted 74 investors with over RUB 92bn worth of declared investments.

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