Economy Minister Satisfied With Russia's Special Economic Zones

Russian Economy Minister German Gref is satisfied with the process of establishing special economic zones in Russia, he told journalists today. He noted that there were problems with establishing special zones for tourism and recreation and port zones. "Announcement of the tender for tourism and recreation zones has been prolonged; amendments to the legislation on establishing port zones have not been approved," he said.

He added that those two problems would be discussed at the government meeting on July 24, 2006. The Minister emphasized that "the process of establishing special economic zones was going as planned". He noted that the first three companies were registered in the Moscow special economic zone and two more in the Dubna (Moscow region) economic zone on July 24, all five being Russian companies. Gref hoped that the first industrial complexes would be constructed in Russia's special economic zones in 2006 to start the development of hi-tech products.