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Vladivostok free port to receive $918 mln worth of investment

The law on free port provides for establishing of a new special economic zone embracing 15 municipalities in the south of Primorsky Krai

VLADIVOSTOK, December 4. /TASS/. Vladivostok free port may receive more than 62 bln rubles ($918 mln) worth of investment, Primorye administration reported on Friday, adding that 10 applications have already been received from potential investors.

«We’ve already received around 10 applications from potential residents of Vladivostok free port, with investment proposals totaling 62 bln rubles,» First Deputy Governor of Primorsky Krai Vasily Usoltsev was quoted as saying.

The law on free port came into force on October 12, 2015. It provides for establishing of a new special economic zone embracing 15 municipalities in the south of Primorsky Krai. Experts believe that the law will significantly accelerate special economic zone development and boost investments.

Источник: tass.ru

Economic recession in Russia may reach 5% in 2015 — deputy PM

The decline of Russia’s car industry should not exceed 30% in the end of 2015, says Deputy Prime Minister Arkady Dvorkovich

MOSCOW, November 11. /TASS/. Economic recession in Russia may virtually reach 5% in 2015, Deputy Prime Minister Arkady Dvorkovich said on Wednesday.

«We’re facing a 5% decline of GDP this year,» he said.

According to the official forecast prepared by the Economic Development Ministry, GDP in Russia will decline by 3.9% this year.

Deputy PM also said imports have fallen by around 30% this year. «This means that the share of local production has risen,» Dvorkovich said, adding though that the investment cycle of import substitution projects is rather long. «The projects, which are being founded today, will only have effects in a while, in a short while, but still it’s not [going to be — TASS] in 2015,» he said.

Decline in Russia’s car industry should not exceed 30% in 2015

According to the official the decline of Russia’s car industry should not exceed 30% in the end of 2015.

«There were forecasts that the decline would be 50%, but the use of anti-crisis measures which was mentioned by Igor Shuvalov [first Deputy PM — TASS] made it possible to avoid such a decline.

According to our estimates it should not exceed 30%,» Dvorkovich said speaking in the State Duma, lower house of parliament.

Dvorkovich said that Russian automakers have the biggest advantage thanks to the application of anti-crisis measures.

«Comprehensive support to the city of Togliatti, Avtovaz [carmaker — TASS] made it possible to stabilize the situation in the region in general. Nevertheless, this issue remains in focus of our attention, and the measures relating to the labor market, creation of industries to substitute imports, as well as promoting a new line cars — all this is are among our priorities», he said.

Loans issued by Industry Development Fund may grow in 2016

Dvorkovich noted that the amounts of loans to be issued by the Industry Development Fund (IDF) may grow next year.

«We will increase amounts of loans [extended by IDF — TASS] next year for implementation of new projects if resources are available,» the deputy prime minister said.

The Industry Development Fund offers preferential conditions for project financing in industry sphere for the purpose of developing competitive new production facilities. The amount of the fund for 2015 is about 20 bln rubles ($310 mln).

Источник: tass.ru

Russia climbs 11 positions in Doing Business ranking

In 2015, Russia climbed from the 62nd to the 51st place

WASHINGTON, October 27. /TASS/. Russia’s Doing Business ranking rose by 11 positions during the year, according to a new international ranking of business environment, which is prepared annually by the World Bank.

In 2015, Russia climbed from the 62nd to the 51st place. It is only 0.02 points below the 50th position which is occupied by Peru.

In 2013, Russia ranked 92-th.

Improvement of business environment is one of the strategic tasks of the state.

In May 2012, the Russian president signed a decree on long-term government economic policy. This May decree sets the guidelines for improvement of the business climate in the country.

The decree sets the task to raise the country’s position in the Doing Business ranking from the 120th in 2011 to the 50th in 2015 and the 20th in 2018.

According to the World Bank, during the current year Russia carried out five economic reforms, which contributed significantly to the advancement of the country’s rating.

The greatest success was achieved for such indicators as «registration of property» /Russia has entered the top ten of the countries with the best performance/ «power supply reliability» and «transparency of electricity tariffs».

Источник: tass.ru

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