Moscow Technopolis Special Economic Zone Goes Global
The Technopolis Moscow special economic zone (SEZ) has joined the World Free Zones Organization in a move that is expected to assist it create joint strategic liaisons with other zones and better promote it as a Eurasian manufacturing hub.
The World Organization of Free Zones was founded in Geneva in 2014, its head office is located in Dubai. This is the only organization in the world that unites free zones, industrial parks, as well as special zones around the world. It aims to assist investors in choosing investment sites around the world, as well as to support and develop this tool through the exchange of experience and knowledge between participants.
Moscow’s Deputy Mayor Vladimir Efimov said “Today, the World Organization of Free Zones includes more than 50,000 companies from 126 countries. The Russian special economic zone is included in it for the first time and will now get a vote at the annual World FZO General Assembly and the opportunity to represent the interests of Moscow and the country. This status will allow residents of Technopolis Moscow along with other tax and customs exemptions to increase export volumes and attract investors from other countries for the implementation of Russian projects.”
According to Alexander Prokhorov, head of the capital’s department for investment and industrial policy of the city, Technopolis Moscow is the second Russian member of the organization after the Federal Agency for Management of Special Economic Zones.
“Such interaction and support for enterprises for the search for new investors from around the world is especially important today – during the period of recovery of the industry that suffered from the pandemic and the regime of time restrictions.” Prokhorov said.
The Technopolis Moscow special economic zone includes five sites with a total area of 206.8 hectares. More than 140 high-tech companies are present. It typically handles investments into hi-tech industries, including micro-electronics, biotech, robotics, medical devises, and energy efficiency. It provides 2% profits tax for ten years, zero land and property taxes, discounts on social insurance and zero import duties.
The Moscow Technopolis brochure introduction is here
Russia has numerous free trade and special economic zones essentially modelled on the China basis, offering low taxes, and rebates on VAT upon export, cheaper use of utilities and so on. Our Guide to Free Trade and Special Economic Zones in Russia is here
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