Vladivostok Established As Free Port By President Vladimir Putin

By Finance

Russia’s president, Vladimir Putin, has signed a law that will regulate relations arising from the Vladivostok free port’s establishing and subsequent operation.

Along the lines of the Russian law, the port is a part of Primorye Territory, which is covered by government measures aiming to enhance business activity for attracting investors for the development of sufficient transport infrastructure.

The law will focus on opening and developing production facilities that are to manufacture competitive goods for the markets of the Asia-Pacific region, and contribute for speeding up socio-economic development, as well as raise Far East residents’ living standards.

Under the stipulations of the law, the Vladivostok free port is to be established for a duration of 70 years.

The law may allow for an additional extension of the said period and for early state support measure termination regarding business operations in the free port territory.

Vladivostok Established As Free Port By President Vladimir Putin

Photo: Vladivostok community