ABOUT free port

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ABOUT FREE PORT

Creation of the Free Port of Vladivostok will be the most ambitious project to stimulate the economic development of the Russian Far East and the successful integration of Russia into the international economic relations system of the Asia-Pacific region. In December 2014, Russian President Vladimir Putin for the first time offered to grand the capital of Primorye the status of a free port with easy customs regime.

PORT’S OBJECTIVES

The project is aimed at enhancing cross-border trade, the development of transport infrastructure and the inclusion of the Primorsky Territory in the global transport routes, as well as to attract investment, create a network of logistics centers with special conditions for transporting, storing and partial cargo handling, organize non-resource export-oriented industries and increase in high value added productions.

SPECIAL STATUS AND PRIVILEGES

Within the framework of the Free Port of Vladivostok, a special status will be granted to 13 municipalities of Primorsky Krai. They will benefit from a special legal regime and a number of preferences for the entrepreneurs and investors. Free port residents will be granted tax benefits, simplified of customs and visa procedures, as well as a maximum reduction of the administrative barriers.

The government also plans to establish a free customs zone regime in the port area, where the imported equipment will be exempt from import duties and VAT. Special operating conditions can be implemented for the educational and medical institutions, as well as for other companies, including fishing enterprises.

GRP GROWTH

According to the experts, the creation of the Free Port of Vladivostok will more than double the gross regional product (GRP) of Primorsky Krai to 1.4 trillion rubles by 2025, and by 2034, it will grow 3.5 times, reaching 2 trillion rubles.

The total GRP of the Far Eastern Federal District as early as 2025 will amount to almost 2 trillion rubles.

NEW JOBS

By 2021, about 85,000 new jobs will be created in the area of the Free Port of Vladivostok, by 2025 — additional 108,000 jobs, and by 2034 — nearly 470,000.