Over 100 billion rubles are to be invested in industrial parks

13 февраля 2014
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Engineering mainlines are the main reason of this interest. In this context, Russian government has already announced the sum of 105 billion rubles for the construction of new industrial parks, which are to be built by 2020. As a result, there will be about three hundred major properties of the kind in Russia.

Several governmental privileges are being introduced in order to attract significant investors. Those include grants and tax remissions.

Clear regulations, however, are yet to be determined. There are certain defects in legislation, and they have to be eliminated because big money and the reputation of the country are at stake. Currently, the process is developing more rapidly in the regions, because local authorities have to create new job opportunities, thus improving social and economical situation. Smolniy bill is a good example. It offers developers an opportunity to get land plot areas for the industrial park construction at a lower rent rate, guarantees zero property tax rate and 13.5% business tax rate during the first four years.

Industrial development of the regions is one the major factors, determining overall economics situation of the country. Therefore, industrial parks and relevant legislation, determining their development, are of prior importance. Currently, there are only 36 industrial parks in Russia, yet they are already associated with a range of serious problems. Legislation of public-private partnerships is not yet clear, there are problems associated with allocating land plot areas to the industries, investors' activities are not always transparent, and the risks are huge.

The process is significantly facilitated by foreign investors, who have already discovered our industrial sites and have been successfully using them for years. They organize events for other investors from their countries and share their experience. However, these activities are simple acts of good will that have to be seriously supported by the government.

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