According to Vedomosti, the Ministry of Economic Development is negotiating the creation of a special economic zone in the Far East with the Japanese investors to grow soya and buckwheat in the Russian Federation. This idea has initially been proposed by Hokkaido Bank.
Japanese have already made a test sowing in the Amur region. At the same time, this region has difficult logistical location for them. In this connection, the development of SEZs in Khabarovsk Krai and Primorsky Krai are being prepared. It has not been determined yet what area they will cover. Special benefits will be provided to the residents of these zones. In particular, the income tax rate would be 2% for the first five years and 15.5% for the next five years. Customs clearance procedures would be simplified. Benefits for the agricultural producers have been announced for the first time. Oleg Saveliev, the Deputy Minister of Economic Development of the Russian Federation, said that only an industrial estate has been created in Vladivostok by Sollers Mazda so far.
The Far East is not attractive for Russia’s agricultural producers – work there is accompanied by high expenses and costs. The region is distant from the Black Sea, where the major sea terminals are. Meanwhile, the Asian market volume is vast and products should find their buyers fast, the Minister noted.
The export agricultural SEZ would be beneficial for the biggest producers such as Summa Group and United Grain Company (UGC) amid the fact that these two companies are planning to build grain terminals on the Pacific Ocean coast: Summa, in Zarubino; UGC, in Vostochny. Thus, the terminal capacity utilization rate will increase.