Astrakhan Oblast to get new shipbuilding SEZ

Chubykin Arkady

Astrakhan Oblast: Russia’s Prime Minister Dmitry Medvedev has signed off on a decree that will see a special economic zone (SEZ) being established on the banks of the river Volga near Narimanov, upstream from the Caspian Sea. The 10 km² zone is expected to create around 13,000 new jobs mainly in the shipbuilding industry. Income tax will be set at 2% (compared to the standard 20%) and residents will be exempt from paying land tax for five years and from property and vehicle tax for a decade. Lenta