Until the end of 2022, the Russian Far East and Arctic Development Corporation (FEDC) will not terminate agreements with residents of the Advanced Special Economic Zones (ASEZ) and Free Port Vladivostok (FPV), as well as the ASEZ “Capital of the Arctic” in case of violation by investors of deadlines and other obligations under agreements.

“The Government of the Russian Federation is taking necessary measures on a daily basis to resolve the situation in the country - to stabilize the market and promote domestic business. The economy of the Far East is being supported. Particular attention is paid to the implementation of projects of residents of the ASEZ and free port. We are interested in the fact that entrepreneurs investing in the Far East successfully implement their projects, and we are ready to help them in this,” said Yury Trutnev, Deputy Prime Minister of the Russian Federation and Presidential Plenipotentiary Envoy to the Far Eastern Federal District.

The decision made applies to all residents of preferential regimes. First of all, it is aimed at supporting the active entrepreneurs who have already started implementing projects (registration of a land plot, design and survey work, construction and installation work, commissioning) but faced objective difficulties that arose due to reasons beyond the control of residents (extension of terms of delivery of equipment, materials, difficulties in attracting financing, an increase in the timing of work, etc.).

“Investors who encounter temporary difficulties due to sanctions pressure will not be subject to liability in this year. Residents will be given additional time and opportunities to continue the implementation of projects within the framework of preferential regimes,” Acting Director General of the FEDC Nikolay Zapryagaev explained.

Today, according to the Ministry for the Development of the Russian Far East and Arctic, more than 2.6 thousand projects are being implemented in the Far East using the mechanisms of state support in the Advanced Special Economic Zones and Free Port Vladivostok. More than 5.7 trillion rubles are being invested, of which 1.9 trillion have already been invested. More than 195 thousand new jobs are being created, of them 82.7 thousand have already been created.

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© Russian Far East and Arctic Development Corporation, 2024