Main advantages of special economic zone in Bashkiria

UFA, 2 April 2019. /Bashinform News Agency, Galina Bakhshieva/ translated by Tatiana Aksyutina/.

The Ministry of Economic Development of Bashkortostan named the main advantages of a special economic zone in the Ishimbay district for investors.

On behalf of the Acting Head of Bashkortostan Radiy Khabirov, work is now underway to create a special economic zone of industrial production type in the Ishimbay district of the republic. The Federation Council later supported the creation of such a zone in Bashkiria.

As emphasized by the ministry, one of the main advantages is to guarantee significant tax benefits and consistent rules for the entire existence of a special economic zone for the residents.

In particular, for companies that have decided to locate their enterprise here, special preferences for profit and property taxes, VAT, land, and transport taxes will be in force.

It is also planned to use accelerated depreciation and benefits for the lease of land. Another significant advantage is that a free customs zone will operate in the territory of the special economic zone.

The only condition for residents is to ensure the volume of investments of at least 120 million rubles. At the same time, it is necessary to invest at least 40 million rubles in the first three years of the project implementation.

As the practice of other regions shows, the costs of investors in the implementation of projects in special economic zones are on average one-third lower than the national indicators.

According to experts, the Ishimbay district has indisputable competitive economic and geographical advantages. They include developed engineering and chemical industries. There are significant reserves of minerals - rock salt, sand, gypsum. The transport infrastructure is developed, including access to the federal highway and railway traffic.

Besides, branches of leading republican universities operate in the territory of the district, which means the availability of human resources.