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21 May, Tuesday

Ufa   °

PDAs development prospects were discussed in Bashkiria Government

Economy/Business

UFA, 22 February 2019. /Bashinform News Agency/ translated by Tatiana Aksyutina/.

On February 21, in the House of the Republic of the Acting Head of Bashkortostan Radiy Khabirov held a meeting with investors in the format of the “Investment Hour” session.

The meeting was attended by members of the republican government, heads of relevant ministries and departments, republican development institutions, as well as heads of municipalities, where priority development areas (PDAs) have already been created or are being formed.

PDAs residents receive a number of preferences: exemption from property tax, lower income tax rates (federal part — from three to zero percent, regional — from 17 to five percent in the first five years and up to 10 percent in the next five years) and reduced insurance contributions to the pension fund, social and compulsory health insurance funds. In addition to these benefits, established by the federal legislation, additional support mechanisms for residents of single-industry cities have been introduced at the republican level.

In Bashkortostan, in 2016, the priority development areas "Belebey" and "Kumertau" were created. In 2017, work began with other mono-cities and the cities of Neftekamsk, Beloretsk and Blagoveshchensk received a status of priority development areas.

  “Hitting the pool of priority development areas is a real step to achieve positive changes in a short time. The next step we are taking is to create a special economic zone in Ishimbay,” Radiy Khabirov set the task. “We must unite our efforts to achieve this important result”.

The Acting Head of the Republic ordered to analyze the first results of the work of the new PDA in the framework of “Investment Hour” session in six months.

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