Russian cabinet discusses details for setting up hi-tech economic zones
The government has announced ambitious plans to develop businesses in the hi-tech sphere, and in particular, special economic zones with substantial tax privileges will be created for this.
Mar 14, 2005
The government has announced ambitious plans to develop businesses in the hi-tech sphere, and in particular, special economic zones with substantial tax privileges will be created for this. This issue is number one on the agenda of today's cabinet meeting.
[Mikhail Fradkov, prime minister] The plan is for special economic zones to become incubators of new technologies, ideas, research-intensive production and everything that can increase the competitiveness of the Russian economy.
The model for special economic zones is based on the implementation of regulating functions - first and foremost, tax [regulating functions], and on laws on tax benefits that are being considered today and which are intended to promote diversity in the economy.
Moreover, Fradkov stressed that the special economic zones that are being created should not turn into new tax holes. The prime minister stressed that it was essential to have the necessary administrative control [over them].
German Gref, the head of the Ministry of Economic Development and Trade, suggested that a federal agency should be set up that would coordinate the activities of such zones.
The cabinet's plan is that special economic zones will ensure a significant inflow of investment into the country.
BBC Monitoring
[Mikhail Fradkov, prime minister] The plan is for special economic zones to become incubators of new technologies, ideas, research-intensive production and everything that can increase the competitiveness of the Russian economy.
The model for special economic zones is based on the implementation of regulating functions - first and foremost, tax [regulating functions], and on laws on tax benefits that are being considered today and which are intended to promote diversity in the economy.
Moreover, Fradkov stressed that the special economic zones that are being created should not turn into new tax holes. The prime minister stressed that it was essential to have the necessary administrative control [over them].
German Gref, the head of the Ministry of Economic Development and Trade, suggested that a federal agency should be set up that would coordinate the activities of such zones.
The cabinet's plan is that special economic zones will ensure a significant inflow of investment into the country.
BBC Monitoring