VLADIVOSTOK, Jan. 1 (Xinhua) -- Russia officially launched its International Advanced Development Zones (IADs) in the Far East on Thursday, offering preferential conditions to foreign investors.
The federal law establishing the IADs in the Russian Far East came into effect the same day. Russian Minister for the Development of the Far East and the Arctic Aleksey Chekunkov told Xinhua recently that the new preferential system will provide long-term and stable guarantees for enterprises, with tax and regulatory conditions remaining unchanged throughout the project cycle, for up to 15 years.
The investment threshold for companies entering the IADs is 500 million rubles (6.32 million U.S. dollars). Resident enterprises must produce high-value-added products or undertake projects included on a specific list approved by the Russian government, he said. ■
