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The State Duma adopted a draft law on creating a special economic zone in the Kaliningrad Region
The State Duma adopted a draft law on creating a special economic zone in the Kaliningrad Region and on amendments to several legislative acts of the Russian Federation in the third reading Friday. With 226 votes necessary to adopt the draft law, 434 parliamentarians voted in favor of the bill. No one voted against it or abstained. The document provides for the creating of a Special Economic Zone in the Kaliningrad Region that would enjoy special legal status in business, production and investment. The draft law also outlines the key federal policy courses in relation to Kaliningrad. This implies the development of investment processes and competitive export-oriented production. Under the draft law, a free customs zone will be established in the Kaliningrad Region. The draft law stipulates the establishment of the special economic zone for 25 years. A law on canceling the operation of the special economic zone will be adopted when the term expires. The document also stipulates that the special economic zone would be closed down under curfew or in case of an emergency lasting longer than three months.
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