“The government of Russia has proposed a bill to expand the types of activities allowed in the special economic zones (SEZs) as part of its complex of measures to support the economy. The amendments to the federal law “”On special economic zones in the Russian Federation”” aim to expand the list of products that can be produced and processed in the SEZs. The proposed additions to the list include ethane, liquefied hydrocarbon gas, and liquid steel, which are classified as excisable goods, and their production and processing in the SEZs were previously prohibited.

According to the government, this decision will enable the opening of new production facilities, attract investors, and create new jobs. Special economic zones are established to develop the industry, high-tech sectors of the economy, tourism, and port infrastructure. Placement in the SEZs provides businesses with several advantages, such as established infrastructure and communication, minimization of administrative barriers, tax incentives, and customs preferences. All of these help with the socio-economic development of the territories, contribute to the growth of employment and citizens’ well-being.

Government of the Russian Federation”