Import-substituting furniture production to open in Vladivostok in 2023
A new resident of the Free Port of Vladivostok (FPV), “Construct Vladivostok” LLC, is implementing a project to replace the import of high-quality furniture, interior items, metal products, wood and plastic products. Production is scheduled to begin in Vladivostok in the third quarter of 2023. The application of the free customs zone (FCZ) procedure will allow the investor to equip the workshop with production equipment without paying import duties. Under an agreement with the Corporation for the Development of the Far East and the Arctic (FEDC), investments in the project will amount to 21 million rubles.
“Volumes of production and provision of services will depend on demand, but the capacity of the enterprise will be able to meet the needs of consumers in Primorye and other regions. Restaurants, hotels and shops that prefer an individual approach to creating interior items, individuals, municipal authorities, management companies, residential complexes will become customers," Konstantin Kutsenko, General Director of Konstrukt Vladivostok LLC, said.
The entrepreneur noted that tax incentives and preferences of the FPV regime will provide significant support to business development. One of the most important preferences will be the application of the Free Customs Zone (FCZ) procedure.
According to Sergey Skaliy, Deputy Director General for Support of Investment Projects of the FEDC, preferential business regimes - FPV, advanced development territories, the Kuril Islands of the Russian Federation, the Arctic zone of the Russian Federation - allow the use of customs benefits within the framework of the free customs zone procedure. Together with other state support mechanisms - zero taxes on income, property and land during the first years of the project realization, reduced insurance premiums by 75% and other incentives - this allows residents to equip production facilities and commercial real estate with modern equipment, such as machine tools and elevators, to import duty-free Construction Materials. In addition, the FTZ procedure makes it possible for companies to develop the export of high value-added products.
A new resident of the Free Port of Vladivostok (FPV), “Construct Vladivostok” LLC, is implementing a project to replace the import of high-quality furniture, interior items, metal products, wood and plastic products. Production is scheduled to begin in Vladivostok in the third quarter of 2023. The application of the free customs zone (FCZ) procedure will allow the investor to equip the workshop with production equipment without paying import duties. Under an agreement with the Corporation for the Development of the Far East and the Arctic (FEDC), investments in the project will amount to 21 million rubles.
“Volumes of production and provision of services will depend on demand, but the capacity of the enterprise will be able to meet the needs of consumers in Primorye and other regions. Restaurants, hotels and shops that prefer an individual approach to creating interior items, individuals, municipal authorities, management companies, residential complexes will become customers," Konstantin Kutsenko, General Director of Konstrukt Vladivostok LLC, said.
The entrepreneur noted that tax incentives and preferences of the FPV regime will provide significant support to business development. One of the most important preferences will be the application of the Free Customs Zone (FCZ) procedure.
According to Sergey Skaliy, Deputy Director General for Support of Investment Projects of the FEDC, preferential business regimes - FPV, advanced development territories, the Kuril Islands of the Russian Federation, the Arctic zone of the Russian Federation - allow the use of customs benefits within the framework of the free customs zone procedure. Together with other state support mechanisms - zero taxes on income, property and land during the first years of the project realization, reduced insurance premiums by 75% and other incentives - this allows residents to equip production facilities and commercial real estate with modern equipment, such as machine tools and elevators, to import duty-free Construction Materials. In addition, the FTZ procedure makes it possible for companies to develop the export of high value-added products.
