The creation of the Neftekhimichesky area of priority socioeconomic development will promote the development of a petrochemical cluster in the Far Eastern Federal District and the export of new products to the Asia-Pacific markets. It will create more jobs and attract investment.
The resolution was prepared by the Ministry for the Development of the Russian Far East pursuant to the list of Presidential instructions on the support of the project for the construction of the Eastern Petrochemical Complex (No.Pr-2579 of 29 December 2016, subclause d of clause 1), clause 11 of the action plan (roadmap) for the Eastern Petrochemical Complex strategic investment project (approved by the Government Directive of 17 December 2015 No. 2602-r), in accordance with the Federal Law No. 473-FZ of 29 December 2014 “On the Areas of Priority Socioeconomic Development in the Russian Federation.”
The newly signed resolution establishes the Neftekhimichesky area of priority socioeconomic development (hereinafter Neftekhimichesky) in the Partizansky Municipal District of the Primorye Territory.
It also defines the boundaries of Neftekhimichesky, the types of economic activities that will be subject to special legal regulation in this area, and the minimum capital investment required of the resident businesses.
The customs procedures of a free customs zone, as stipulated by the law of the Eurasian Economic Union, will apply to Neftekhimichesky.
According to the estimates of the Ministry for the Development of the Russian Far East, the newly-established area of priority development will attract more than 540 billion roubles in private investment, and at least 3,500 jobs will be created for the implementation of investment projects. Tax contributions to budgets of all levels will top 111.7 billion roubles by 2025.
Neftekhimichesky will promote the development of a petrochemical cluster in the Far Eastern Federal District, the development of infrastructure and related industries in the Primorye Territory, and the export of new products to the Asia-Pacific markets. It will also create more jobs and attract investment.