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16 July, Tuesday

Ufa   °

Federation Council supported special economic zone creation in Ishimbay district of Bashkiria

Economy/Business

UFA, 13 March 2019. /Bashinform News Agency/ translated by Tatiana Aksyutina/.

The Federation Council endorsed the idea of creating a special economic zone in the Ishimbay district of Bashkiria. Within the framework of the Days of the Republic in the upper chamber of the Russian parliament, a delegation from the republic spoke about the need to create such a zone in Bashkiria.

According to Interim Deputy Prime Minister of Bashkiria Ilshat Tazhitdinov, the site for the special economic zone in the Ishimbay district of Bashkiria has now been selected. The place has good transport accessibility — next to the R-240 highway, which has access to the federal highway M5 and M7, 140 km from Ufa airport, a railway line passes nearby. The major industrial cities of Sterlitamak and Salavat, which have powerful human resources are close to it. There is already a preliminary agreement with the first residents of the zone who represent the chemical industry.

Special economic zones are a useful tool for attracting investors to the region, provided that the leadership of the region carefully monitors them, stressed at the Committee on Economic Policy of the Council of the Federation. The most successful such zone in Russia is Alabuga in Tatarstan. At the same time, most of the 26 zones created in the country work inefficiently. The delegation of Bashkortostan was recommended to carefully work out a plan for creating an special economic zone and assess the economic effect of its creation.

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