Four Bashkiria cities will be able to receive investment preferences

UFA, 11 July 2016. /Bashinform News Agency, Galina Bakhshieva/. Another four cities of Bashkortostan will be able to receive additional preferences for entrepreneurs and investors. As the press service of the Ministry of Economic Development RB explains, it has become possible due to the amendments recently made to the Federal Law "On the Territories of Advanced Social and Economic Development in the Russian Federation."

Thus, from January 1, 2017 it is established a possibility of creating territories of advanced social and economic development in all single-industry entities, regardless of their category. Previously, these territories could only be formed in single-industry towns with the most difficult social and economic situation.

Among the municipalities of Bashkortostan the cities of Belebey and Kumertau were related to this group. Their application for the status of the advanced socio-economic development territories have been already approved by the commission.

The July amendments to federal law now enable Neftekamsk, Beloretsk, Uchaly and Blagoveshchensk also to get preferences in the form of tax and other incentives for businesses that implement investment projects, and to improve the socio-economic situation of their territories.