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Vladimir Putin signed Federal Law On Amendments to the Federal Law on the Special Economic Zone in Magadan Region.
The Federal Law extends the term of the Special Economic Zone (SEZ) in Magadan Region until December 31, 2025, and regulates certain issues dealing with its functioning.
The Federal Law establishes the main goals of creating the Special Economic Zone: attracting investment, setting up and developing production facilities, energy and transportation infrastructure, developing production forces, financial and commodity markets of Magadan Region. The law sets forth the requirements to individuals seeking to become a SEZ participant and regulations for executing agreements to conduct activities on the SEZ territory.
The Magadan SEZ participants operating as of December 31, 2014, have the right to enter into supplementary agreements to extend the existing agreements on activities in the Special Economic Zone, as provided for by local legislation.
December 23, 2014