Russia Considers A Special Economic Zone At Belgorod

Posted by

SEZ close to the border with Ukraine

Russian President Vladimir Putin has supported the idea of creating a special economic zone in the Belgorod region. The acting governor of the region Vyacheslav Gladkov has voiced plans to double the gross regional product by 2030. In his opinion, this can be done by implementing several investment projects, and attract MNCs by creating a regional special economic zone.

Belgorod is in Russia’s south-west and close to the border with Ukraine. It has an international airport and rail connections with Moscow.

Developing a Belgorod SEZ – which would provide tax incentives in addition to duty free importation of certain products – would cost an estimated US$3.4 billion. However, it would benefit local residents, many of whom are ethnic Russians who have fled conflict in Ukraine. Belgorod is also connected via road and rail to Belarus. It is an agricultural region with opportunities in this commercial sector and capable of supporting light industrial manufacturing.

President Putin has stated “As for the Belgorod free economic zone, we need to figure it out. But in general, of course, if there are conditions for ongoing investment processes in the region, it is very important, we will definitely consider it. I would support this idea.”

Related Reading


About Us

During these uncertain times, we must stress that our firm does not approve of the Ukraine conflict. We do not entertain business with sanctioned Russian companies or individuals. However, we are well aware of the new emerging supply chains, can advise on strategic analysis and new logistics corridors, and may assist in non-sanctioned areas. We can help, for example, Russian companies develop operations throughout Asia, including banking advisory services, and trade compliance issues, and have done since 1992.

We also provide financial and sanctions compliance services to foreign companies wishing to access Russia. Additionally, we offer market research and advisory services to foreign exporters interested in accessing Russia as the economy looks to replace Western-sourced products. For assistance, please email or visit