Dagestan to stimulate the creation of industrial parks

Dagestan to stimulate the creation of industrial parksA special bill to stimulate the creation of technology parks in Dagestan has been recently considered by the Bureau of the National Assembly of the Republic. Despite the fact that there is no organization, registered as a technopark in Dagestan, the draft law is prepared in accordance with the republic authorities’ plans on the socio-economic development of Dagestan till 2025.

The bill provides an exemption from the property tax for the main organizations of technoparks and their residents in relation to property they use to achieve the objectives of technology parks, provided by the law on industrial parks of the Republic. The tax credit will be provided for the duration of the status of industrial park that is a period of 5 years, with a possible further prolongation, as stated in the Law On the industrial parks of the Republic of Dagestan.

The tax credit designed to encourage the development of innovative infrastructure in the Republic, the integration of applied science and industry, the development of innovative enterprises, the maximum use of the untapped production capacity of industrial enterprises.

Currently, no legal entity has the official status of industrial park. Due to the limited funds of the republican budget and the availability of vacant production areas, industrial parks in the Republic will be created on the basis of existing industrial enterprises and scientific institutions.

The promising areas to create technoparks in Dagestan are: composites and fibers (on the base of LLC New basalt Technologies - Dagestan), radioelectronics, information technologies and nanotechnologies (JSC Scientific-Industrial Complex Russian electronics, a higher educational institution of the Republic), engineering and advanced materials (LLC Global-M).