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The largest SEZ of China, the Minister of Economic Development of the Russian Federation and SEZ "Alabuga" discussed cooperation

The presentation of the special economic zone «Alabuga» was held today in Shanghai as part of the meeting of the Russian-Chinese subcommittee on trade and economic cooperation. The meeting was held by the Minister of Economic Development of the Russian Federation Maxim Oreshkin and the Minister of Commerce of the People’s Republic of China Zhong Shan. The members of the subcommittee supported the development of cooperation between «Alabuga» and the largest Chinese special economic zone TEDA.

The general director of the special economic zone «Alabuga» Timur Shagivaleev presented SEZ during the meeting, and also spoke about the project of creating a joint venture «Alabuga» with the People’s Republic of China. This project involves involving a strategic Chinese partner in the further development of the infrastructure, as well as attracting new investors, primarily from China. It is assumed that this will attract about 8-10 billion rubles in investment in the further development of the SEZ infrastructure.It is planned that the establishment of a joint venture with China will attract at least 60 Chinese companies with a total investment of 180 billion rubles, increase tax revenues to budgets of various levels by 6 billion rubles a year, create 8,000 jobs.

Following the meeting, the members of the Sub-Commission approved a protocol in which the ways of developing cooperation on special economic zones were separately noted. The Subcommittee supported the development of cooperation between the SEZ «Alabuga» and the Tianjin Economic and Technical Development Zone TEDA, in turn, the Russian side invited representatives from the Ministry of Commerce of the PRC and TEDA to visit «Alabuga».

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