The President of the Republic approved the concept of improving the efficiency of industrial parks

The Board of the Ministry of Economy of Tatarstan, dedicated to summing-up 2020 and setting new goals for the current year, as well as factors of economic development, has raised the subject of new concept of development of the industrial parks and areas of the Republic.

The concept has already received the approval of the President of the Republic of Tatarstan. The essence of this concept is to create special conditions for residents whose investment projects will be approved by the Authorized Body, in order to receive special preferential conditions in return for fulfilling obligations to create jobs and investments.

In return for fulfilling the obligations on investments and jobs, it is planned to offer residents of the parks:

- tax preferences;

- subsidizing the cost of electricity;

- financial support measures, such as microloans and grants.

According to the concept, the objects of infrastructure support for business should become real points of economic growth for SME and the municipality itself, creating jobs, developing alternative types of employment for small businesses.

In order to implement the concept, over the past year the Ministry of Economy conducted extensive work on the preparation of relevant draft amendments to the legislative acts of the Republic of Tatarstan.