New criteria for creating special economic zones have been approved

The Chairman of the Government of the Russian Federation Dmitry Medvedev signed the decree of 10 May 2017 "On Amending the Criteria for Creation of a Special Economic Zone." The document was submitted by the Ministry of Economic Development of the Russian Federation.

The decree extends the list of criteria that are taken into account in decisions making on establishment of a special economic zone (SEZ). In particular, creation of SEZ will now take into account profitability, rate of return and payback period, territorial planning project and long-term development plan for SEZ, as well as analysis of the environmental risks of the project. In addition, experience of future SEZ management company will be taken into account in creation and maintenance of infrastructure facilities, as well as successful implementation experience in constituent entity of the Russian Federation or municipality in which creation of SEZs, large investment projects or creation of innovative clusters, industrial parks or industrial parks is expected.

The adopted decision is aimed at increasing efficiency of special economic zones.