Bashkortostan Development Corporation will manage Alga SEZ

The Development Corporation of Bashkortostan is approved as the managing company of the Alga Special Economic Zone. The corresponding agreement was signed between the Ministry of Economic Development of Russia and the Development Corporation RB. The areas of activity of the management company will include the creation and maintenance of transport, engineering and customs infrastructure facilities, the attraction, selection, and organization of work with residents and the improvement of the SEZ territory.

“Alga is a unique special economic zone with four sites, which allows locating the production of different industries in the territory. Agreements with 9 residents have already been signed, work in this direction is ongoing, ” Rail Sarbayev, Director General of Bashkortostan Development Corporation, commented on.

Federal legislation established several preferences and benefits for enterprises operating in special economic zones. In particular, companies are exempted from land, property, and transport taxes for 10 years; tax holidays begin from the moment the tax base appears. The SEZ also has a free customs zone regime. Residents are exempted from import customs duties and/or taxes on foreign equipment if the free customs zone procedure is used for the period that this equipment is in the territory of the SEZ until the expiration of the business agreement validity. Residents have their own customs post in the territory.