The Russian government has approved the state program for rebuilding and socio economic development of the new regions.
The program for the Donetsk and Lugansk People’s Republics and the Zaporozhye and Kherson regions aims to restore the housing, utility and transport infrastructure, create a favorable investment climate and ensure the average Russian standard of living in the new territories by the year 2030.
The objectives will be reached thanks to increasing business activity and direct government support in the form of federal budget subsidies.
Subsidies will be provided for housing construction, urban area development and repairs of water supply facilities, power networks and maritime and road infrastructure.
The development of the Free Economic Zone established in the new regions will be an important instrument to support the investors. The FEZ offers preferences including tax incentives and lower insurance fees until December 31, 2050.*i
