Unified preferential regime for businesses to be launched across entire territory of Far East, Arctic starting in 2027 - Putin
VLADIVOSTOK. Sept 5 (Interfax) - A unified preferential regime for businesses will be launched across the entire territory of the Far East and Arctic starting January 1, 2027, while existing benefits for current investors will be preserved, President Vladimir Putin said during the plenary session of the Eastern Economic Forum.
"Taking into account the accumulated successful experience [in creating advanced development territories in the Far East], I propose taking a radical step: namely, to seamlessly, while preserving conditions for current investors, launch a unified preferential regime for businesses across the entire territory of the Far East and Arctic. This should be done starting January 1, 2027," Putin said.
"The point is to simplify the use of support tools for entrepreneurs, companies and their new projects. In other words, wherever an investor goes, to any Far Eastern or Arctic region, city or town, they will everywhere be entitled to benefits," he said.
"I emphasize that when launching the unified preferential regime, conditions for current investors in advanced development territories will be preserved. No one should have any concerns that something will be changed midstream," he said.
"This also applies to residents of international advanced development territories. This tool involves even longer-term profit tax benefits and the so-called 'grandfather clause,' meaning unchanged operating conditions for a period of up to 15 years," Putin said.
The regulatory framework is ready, and starting January 1, 2026, international advanced development territories will operate in Trans-Baikal Territory, the Amur region, the Jewish Autonomous Region, Khabarovsk Territory and Primorye, he said.
"Returning to the unified preferential regime in the Far East and Arctic, I note the following: what the set of preferences will be, their exact parameters, timelines and specific focus, the government must determine together with colleagues in the Far Eastern federal subjects," Putin said, giving instructions to the government.
"What is fundamentally important here, what needs to be paid attention to: building on the achieved results in the extractive and processing industries, and on a solid infrastructure framework, we must launch a new stage of development for the Far East, shaping the economy of the future with a radical improvement in the environment in cities and towns, with the training of in-demand professional personnel, and with high-tech projects. This is the essence of the new stage - we need to make the entire territory of the Far East a territory where high-tech projects will develop," Putin said.
