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EastRussia Newsletter: National FEFD Program Approved Within 2 Months

EastRussia Newsletter: National FEFD Program Approved Within 2 Months
Photo: EastRussia

The national program for the development of the Far East should be approved within the next two months. In addition to preparing the document, relevant departments are working on the development of additional support measures for resident investors of TOR and SPV, the next published issue of the EastRussia newsletter says.

According to the draft presidential decree, the government should approve the national program of socio-economic development of the Far East for the period until 2024 and for the future until 2035 within two months. As noted in the decree, by 2024, the quality of life in the Far Eastern Federal District should improve at a rate that exceeds the national average, life expectancy should increase by at least five years, and mortality of the working-age population should decrease by a third. For these purposes, the federal budget is expected to provide an additional amount of over 160 billion rubles.

It is also planned to ensure the economic growth rate of the Far Eastern Federal District, which exceeds the national average by at least 1,5 times, due to the growth of accumulated investments to two trillion rubles, the launch of at least 800 enterprises and the creation of at least 100 thousand new jobs. Until 2035, it is necessary to ensure the cessation of the outflow of the population.

In the meantime, the Ministry for the Development of the Far East and the Far East Development Corporation, the Ministry of Finance, the Ministry of Communications and the Federal Tax Service are developing electronic services to improve the quality of online services for residents of the ASEZ and SPV, including simplifying the process of opening and registering a new business. The Ministry for the Development of the Far East and the Far East Development Corporation reached preliminary agreements on the possibility of integrating services for residents into the so-called super-services “Opening a business” and “Digital business permissions”.

Detailed analytics on this and other relevant topics can be found in EastRussia Weekly Newsletter.

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