To regulate relations arising from the establishment and operation of the Vladivostok free port, Russian President Vladimir Putin signed a law.
Russian law states the following:
- Vladivostok free port is a part of Primorye Territory
- Support business activity to attract investment in developing transport infrastructure
- Open and develop production facilities manufacturing competitive goods for the Asia-Pacific region markets
- Speed up socio-economic development and raise the living standards of the Far East residents
The establishment of free port is for a time period of 70 years. The law contemplates a possible extension of this time period as well as early termination of state support measures for business in the free port territory.
