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14.03.24 09:05

Economy

Three new special economic zones to be formed in Russia

The purpose of their creation is to develop industry, high-tech industries and tourism

Russian Prime Minister Mikhail Mishustin has signed a decree on the formation of three new special economic zones (SEZs) in the country and the expansion of two existing ones. This is reported by Xinhua News Agency, a partner of TV BRICS.

According to the document published on the website of the Russian Cabinet of Ministers, new SEZs will appear in the Republic of Mordovia, as well as in the Tver and Rostov regions. The volume of investments in the SEZ in Mordovia will amount to over US$363 million, over US$185 million will be allocated to the SEZ in the Tver region. US$94 million will be invested in the special economic zone in the Rostov region.

The Cabinet of Ministers notes that special economic zones in Russia are created for the development of manufacturing industry, high-tech industries, tourism and port infrastructure. Tax benefits and customs preferences are available to residents located in SEZs.

Photo: IStock

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Prabowo Subianto

President of Indonesia

"This roadmap sets the framework for our joint efforts. Indonesia and Belarus have great potential for expanding cooperation in various fields. Our cooperation will focus on industrial development and agricultural modernisation. In industry, we see a major opportunity to increase trade volumes, investment, and cooperation between our two countries. We are also pushing for closer collaboration in culture and human resource development"

Liao Fan

Director of the Institute of World Economics and Politics at the Chinese Academy of Social Sciences (CASS)

"We also encourage countries of the Global South to work together and contribute to the global economy. We also call on developed countries to set aside issues such as national security and strategic competition when we are discussing real global challenges – pressing issues such as public health or poverty reduction – so that development resources can be channelled truly effectively to those countries that need them. [...] Major powers and large countries must bear greater responsibility for the well-being of people around the world. This is the responsibility of the major powers"

Anutin Charnvirakul

Prime Minister of Thailand

"Russia has been a trusted friend of Thailand for over a century. […] Next year, we will mark the 130th anniversary of the establishment of diplomatic relations between our countries. We will commemorate this important milestone with high-level exchanges, thereby reaffirming our shared commitment to an even stronger partnership for the benefit of our peoples"

Ferdinand Marcos

President of the Republic of the Philippines

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Anwar Ibrahim

Prime Minister of Malaysia

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