Irina Kiviko: FEZ residents have invested more than RUB 190 billion in Crimea

Participants of the Free Economic Zone have invested more than RUB 190 billion
of investment, over 1.3 thousand projects are being implemented on the territory of
the republic. This was announced by Deputy Chairman of the Council of Ministers
of the Republic of Crimea — Minister of Finance of the Republic of Crimea Irina
Kiviko. "One of the key tasks of the Ministry is to ensure the growth of investment
activity of economic entities, which contributes to accelerating the pace of socio-
economic development. To date, 1,288 FEZ participants have been registered, who
are implementing more than 1,367 investment projects. During the period of
operation of the FEZ, its participants invested more than RUB 190 billion of
investment, of which capital - about RUB 127 billion, more than 58 thousand jobs
were created," Irina Kiviko said. According to her, since the beginning of 2022, 13
contracts have been signed, with the volume of capital investment of about RUB 1
billion. This year, the volume of investment made within the FEZ is expected to be
at least RUB 34.5 billion, 8,700 new jobs will be created. The Deputy Prime
Minister recalled that starting from 2022, it is possible for branches of mainland
enterprises to obtain the status of a FEZ participant in the territory of Crimea, and
the minimum amount of capital investment by FEZ participants in the first three
years of the investment project implementation has been increased (up to RUB 6
million for SMEs and up to RUB 60 million for large enterprises). Residents of
the Free Economic Zone can also receive preferential loans for the implementation
of investment projects. The difference between the preferential rate and the market
rate will be reimbursed to banks by the state.
For reference:
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.
Press Service of the Crimea Development Corporation