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Azerbaijani entrepreneurs invited to participate in Russia's largest SEZ

Business Materials 23 March 2013 15:31 (UTC +04:00)
Azerbaijani entrepreneurs and business community are invited to implementation of investment projects in the Alabuga special economic zone in chemical, construction, light, food and machine tool industry. This is stated in the report of the Ministry of Economic Development of Azerbaijan, published on its website.

Azerbaijan, Baku, 23 March / Trend I.Khalilova /

Azerbaijani entrepreneurs and business community are invited to implementation of investment projects in the Alabuga special economic zone in chemical, construction, light, food and machine tool industry. This is stated in the report of the Ministry of Economic Development of Azerbaijan, published on its website.

The Alabuga special economic zone was established in 2006, and provides investors with a fully-developed industrial, engineering, transport and customs infrastructure, as well as a number of tax and customs privileges.

According to the report, companies are exempt from the land, property and vehicle taxes for 10 years. Tax holiday begins with the onset of the tax base. There are preferential tax rates on income for residents: two percent for the first five years, seven percent for the next five years and 15.5 percent - until 2055. Taxpayers can also use the scheme of accelerated depreciation factor of two per cent.

Due to the free customs zone on the territory of Alabuga, foreign equipment, raw materials, components and construction materials are not subject to import customs duties and VAT.

The cost of lease of land with an area of one hectare, on average, amounts to $ 1,000, purchase -$ 3,000.

The Alabuga special economic zone is the largest one in the Russian Federation, the total value of projects undertaken by resident companies exceeds $ 3 billion, of which $1 billion has already bee invested.

At present, 33 resident companies have already registered at the Alabuga SEZ. Six plants will enter into force per annum starting 2013. Among the resident companies of the Alabuga SEZ are such international brands as Ford, Rockwool, 3M, Armstrong, Air Liquide, Preiss-Daimler, RRDonnelley, Saint-Gobain and others.

To date, SEZ employs over 3,000 people.

SEZ resident certificate is available on the basis of the agreement on industrial and manufacturing activities concluded with the Ministry of Economic Development of the Russian Federation.

those interested in participating in investment projects in the SEZ may obtain additional information by visiting www.alabuga.ru, or contacting [email protected]

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