Russia's Ministry of Economic Development is drafting a new law on the special economic zone in the Kaliningrad Region, the Russian enclave on the Baltic Sea. According to Deputy Minister Mukhamed Tsikanov, the law is to establish a new administrative scheme in the region, special customs and tax systems, as well as privileges for investors, and a simpler procedure for registering companies and crossing the border.
The deputy minister also explained that the Law On the Special Economic Zone in the Kaliningrad Region, currently in force, only helped meet the short-term goal, that of creating favourable conditions for imports and transit of cargoes to Russia.
So far, only the concept of the new law has been developed to be approved by the Cabinet.
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