Amendments to the Law of the Krasnodar Region УOn Stimulation of Investment Activity in the Krasnodar RegionФ Were Adopted
On November 19, 2014, the Legislative Assembly of the Krasnodar Region was approved in second reading a law of the Krasnodar region as an amendment to the Law of the Krasnodar Region No. 731-KZ "On Stimulation of Investment Activity in the Krasnodar Region" of July 2, 2004.
The changes are aimed at improving the investment legislation of the Krasnodar Region to meet the requirements of the standard activities of the executive authorities of the Russian Federation to ensure a favorable investment climate developed by the independent non-profit organization Agency for Strategic Initiatives in order to increase investment activity in the Krasnodar region.
The amendments include:
- expanding the list of ways to promote investment activity;
- clarifying ways of providing measures of state support for investment activities, as well as providing additional information support;
- increase of guarantees for rights of investors and ensuring non-worsening of their situation.
The law will come into force 10 days after its official publication, except for certain provisions that will come into force on March 1, 2015.