Russia’s government approved expansion of TAD Kurily for fish investment projects

The TAD «Kurily» (the territory of advanced social and economic development in the Kurile Islands) will be expanded to carry out new investment projects associated with the fish sector. The respective order was signed by Russia’s PM Mikhail Mishustin on February 20, 2021, reports Megafishnet.com.

According to the Government, the expansion will make it possible to arrange a unit for sewing fishing nets, a fuel supply depot and additional infrastructure for the fish processing plant, which is under construction now. For this purpose, changes have also been made to the list of activities allowed under the TAD regime.

At least 40 jobs will be created with the new projects, and the private investments will amount to about RUR475mln.

TAD «Kurily» was established in the Sakhalin Region in 2017. Like other TADs, it is aimed at stimulating the development of priority sectors of the nation’s economy and attracting new investors, thereby contributing to the growth of the well-being of the region’s residents.

Residents of the territories of advanced development have access to a wide range of benefits and preferences, including reduced tax and insurance rates, the procedure of a free customs zone, and a simplified procedure for the employment of foreign citizens. This legal regime also provides support from the TAD’s management company, which accompanies the business at all stages of development.

For copyright please contact Vera Aldokhina at vera@megafishnet.com.