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Putin makes Vladivostok a free port


Russian President Vladimir Putin has signed legislation to make the eastern city of Vladivostok a free port, the Siberian Times reported.

The move aims to give tax advantages to locals while at the same time attracting more foreign investment, especially from China, Japan and South Korea. 

Primorsky Territory Governor Vladimir Miklushevsky said it will make the city an attractive option for overseas trade and help stimulate the economy.

Key privileges for residents will be the possibility of obtaining state land; tax benefits on property and land, and a free customs zone. There will also be a simplified visa regime.

"Free port residents will receive ample benefits. These are not just tax benefits, but also a simplified visa regime, the implementation of a free customs zone, and simplified border control procedure,” Putin was quoted as saying at the 19th St Petersburg International Economic Forum last month. 

Four zones are included in the new regime: a port and airport zone, an industrial zone, a scientific-promotional zone, and a tourist-recreational zone. One of the aims will be for Vladivostok to compete as a gambling destination once a gaming zone opens in Primorye.

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