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Russia Expands Economic Horizons with New Special Economic Zones

Russian Prime Minister Mikhail Mishustin has officially approved the creation of three new special economic zones (SEZs) in Russia and the expansion of two existing ones. This development was reported by Xinhua News Agency, in collaboration with TV BRICS.

The newly signed decree details the establishment of SEZs in the Republic of Mordovia, and the Tver and Rostov regions, enhancing the country’s economic infrastructure. These zones are expected to significantly boost the local economies by attracting substantial investments—over US$363 million is projected for Mordovia, while the Tver region will see an injection of over US$185 million. Additionally, the Rostov region is set to receive US$94 million in investments.

The Russian government emphasizes that the purpose of these special economic zones is to stimulate the growth of the manufacturing industry, advance high-tech sectors, bolster tourism, and enhance port infrastructure. Moreover, companies operating within these zones will benefit from tax incentives and customs preferences, creating a more favorable environment for business operations and economic development.


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