ADT Law: As part of this program, the Ministry of Eastern Development drafted a law on the creation of special territories in the Far East, known as advanced social-economic development territories , with preferential treatment for businesses, according to The Moscow Times. The ADT Law was adopted in December 2014 and entered into force on March 30, 2015. Sergey Trakhtenberg Partner, Head of Russian Real Estate Practice Dentons Russia is implementing a large-scale program for the development of the Far East aimed at improving living standards, creating jobs, and attracting Russian and foreign investors to the region. The current version of the ADT Law provides that these territories can only be created in the Far East and in depressed cities with a single dominant employer. The authors of the ADT Law have tried to apply the experience gained from SEZs. Russia already has experience in developing territories with preferences for attracting investors — since 2005 Russia has been creating Special Economic Zones providing benefits for entrepreneurs carrying out their activities within such zones.
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Tagged under ADT Law, territories topics.