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The operation of the special economic zone in the Magadan Region has been extended to the end of 2025
The term of functioning of the special economic zone in the Magadan Region has been prolonged until the end of 2025 in accordance with the governmental law passed by the State Duma in the third final reading. The term of the special economic zone in the Magadan region ended in the upcoming 2015 year.
The adopted document established the criteria for selecting SEZ participants: they can not become financial organizations and professional participants of the securities market. Legal entities claiming the status of a participant should not engage in retail and wholesale trade, provision of munici- pal services, oil and gas production and provision of services in these areas, production and processing of excisable goods, but must invest in production and infrastructure projects of a special economic zone.
The objectives of the extension of the SEZ in the Magadan Region are comprehensive development of the region, improvement of the investment climate, and implementation of projects for the development of the Far East.