Reference
The signed document was developed by the Ministry of Economic Development in accordance with the federal law On Special Economic Zones in the Russian Federation and stipulates the establishment of the Veduchi special tourism and recreation economic zone in the Itum-Kale Municipal District in the Chechen Republic.
The establishment of this special economic zone meets the criteria for such a zone approved by the Russian Government’s Resolution No. 398 of April 26, 2012.
In particular, its creation corresponds with the Strategy for the Socio-economic Development of the North Caucasus Federal District to 2025 and the Strategy for Socio-Economic Development of the Chechen Republic to 2025.
Declared private investment allocated by potential residents is approximately 15.8 billion roubles. Veduchi, Ltd., the major investor, has allocated about 1.2 billion roubles to develop the resort’s infrastructure. The implementation of this project will create over 2,500 jobs, attract investment, promote tourism, and address the socio-economic development of the region.
The establishment of the special economic zone does not require any additional funding.