Bashkiria law-makers shared experience of industry incentive measures with their colleagues in Volga region

Arina Rakhimkulova

UFA, 31 March 2016. /Bashinform News Agency, Arina Rakhimkulova/. Bashkiria experience of legislative support for stimulating activities in the field of industry was presented to representatives of the Volga Federal District subjects. The Deputy Chairman of the State Assembly of Bashkortostan Franis Saifullin made a detailed report at the meeting of the Association of legislative (representative) bodies of state power of Volga Federal District subjects, which was held in Saratov.

In his speech, he analyzed the law "On Industrial Policy in the Republic of Bashkortostan", which was adopted in December last year. In accordance with the provisions of the new law investors are provided incentives for land plots lease being in the republican property. Such enterprises are exempt from property tax, granted subsidies for bank loans interest rates. The state support is provided both to domestic and foreign investors. The Investment Fund of the republic was established as an instrument of financial support for public-private partnership projects.

The Deputy Chairman of the State Assembly said that about 40 investment projects on construction of new and expansion of existing industrial facilities totaling more than 300 billion rubles had been implemented. This will create about 13 thousand new jobs. According to Franis Saifullin not only a favourable legal framework is formed to ensure the incentive measures in industry at the regional level, but also it is successfully implemented in practice, the press service of the State Assembly reports.

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#investment #industry #state support

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