Government performance in facts and figures: Investments by residents of special economic zones went up to reach 30.2 billion roubles in 2013, an increase of 12.7 billion on 2012. Residents’ revenues amounted to 50 billion roubles compared to 29.7 in 2012, and they created 3,145 new jobs against 1,814 in 2012.
The Government reported on the progress in implementing the Presidential Directive of 11 August 2012 on improving the effectiveness of special economic zones.
In pursuance of the instructions issued to the Government which incorporate the results of monitoring the efficiency of budget funds use conducted by the Accounts Chamber, the federal executive bodies have taken measures aimed at improving the productivity of special economic zones and the efficiency of budget funds’ use allocated for the development of their infrastructure.
The remaining balance of unused funds by OEZ company has halved to 14 billion roubles as of 1 January 2014, whereas on 1 January 2013 it amounted to 34.6 billion roubles. The volume of assets unimpaired by contractual liabilities has considerably dropped from 22.4 billion roubles on 1 January 2013 to 3.7 billion roubles on 1 January 2014.
Investments made by residents of special economic zones have grown, coming to 30.2 billion roubles in 2013, 12.7 billion roubles up on 2012. The residents’ revenues amounted to 50 billion roubles in 2013 compared to 29.7 billion roubles in 2012, and they created 3,145 new jobs (1,814 new jobs in 2012).
Additional measures are being taken in order to further boost the effectiveness of budget funds’ use and expand the regions’ powers in managing special economic zones.
Thus, the volume of funds directed to the authorised capital of OEZ’s subsidiary companies was 20.43 billion roubles in 2013. Compared to early 2013, the subsidiaries’ assets rose from 25.6 billion roubles to 42.1 as of 1 January 2014. About 14 billion roubles are planned to go to the subsidiaries’ authorised capital in 2014.
The OEZ Company has adopted corporate procedures, including a revised statute of share-holding subsidiaries, aimed at enhancing the involvement of the shareholders, including the constituent entities of the Russian Federation, in managing those companies. A decision was taken regarding works and services contracts for the construction of infrastructure in the special economic zones exclusively by the subsidiaries.
The above measures will increase the regions’ role in managing special economic zones, reduce the time required for signing infrastructure construction contracts and enhance the monitoring of state budget funds’ use.
In order to effect a more comprehensive performance assessment of special economic zones, the Ministry of Economic Development, in collaboration with the Finance Ministry, is drafting proposals to specify indicators of their budget performance in view of their effectiveness indicators stated in the Creating a Favourable Investment Environment subprogramme under the Economic Development and the Innovation-Driven Economy state programme.