Irina Kiviko: There is a significant increase in the declared investment in the framework of the FEZ, in Crimea

To date, 1,286 FEZ participants have been registered on the territory of the Republic of Crimea

The number of declared investment in the economy of the Republic of Crimea in January-September 2021, compared to the same period last year, increased by 3.2 times, and contracts concluded  by 1.4 times. Deputy Chairman of the Council of Ministers – Minister of Finance of the Republic of Crimea Irina Kiviko, announced this.

"The participants of the Free Economic Zone demonstrate good indicators. Since the beginning of 2021, 103 contracts have been signed with a capital investment volume of RUB 10.4 billion, according to which it is planned to create 3.5 thousand jobs. Compared to the same period in 2020, the number of contracts concluded has increased by almost 1.4 times, and the volume of declared investment has increased by 3.2 times," Irina Kiviko said.

According to her, to date, 1,286 FEZ participants have been registered on the territory of the Republic of Crimea, which are implementing 1,379 investment projects with a declared investment volume of about RUB 130 billion, including capital investment - more than RUB 84 billion.

The Deputy Prime Minister noted the need to strengthen control over the implementation of investment projects within the FEZ.

"The main violations of the terms of FEZ contracts are non-fulfillment of the volume and timing of capital investment, job creation. At the same time, each participant is granted the right to eliminate the identified violations and continue the implementation of the investment project," Irina Kiviko noted.

According to the facts of the revealed violations, 483 claims were sent to the FEZ participants, 68 claims were prepared to the court for the termination of contracts.

The Free Economic Zone has been operating in the republic since 2015. Residents are exempt from paying property tax for ten years, land tax for three years and import customs duties and taxes. In addition, land plots are provided to FEZ residents without bidding.