Kaliningrad authorities are interested in pharmaceutical production development

| By | Ecobaltic, Pharmaceutical Manufacturing

The issues of localizing the pharmaceutical manufacturing in Russian regions were discussed in Moscow.

Vladimir Zarudny, the General Director of Kaliningrad Region Development Corporation JSC, described new investment opportunities opening in the Kaliningrad region after the adoption of amendments to the Law on Special Economic Zone. This includes the reduction of investment threshold for the projects in the area of health care down to 10 million rubles. That amount must be invested in the region’s economy within three years. The companies obtain the status of Kaliningrad Special Economic Zone resident at the registration of the legal entity in the region. This status gives such benefits as the exemption from taxes on profits, property, and land. For the residents, the so-called “social payments” are reduced from 30% to 7.6%.

“The regional authorities are interested in the development of pharmaceutical facilities in the Kaliningrad region. The priorities of industrial policy implemented by the regional government include pharmacology and the projects to develop and use the latest medical technologies. The region already has in place the Ecobaltic Industrial Park with a plant that manufactures miramistin, a well-known medicine. Next year, the construction of another plant for manufacturing the medical equipment will begin nearby. The investments in the project will be $14 million, and Nepes, a South Korean corporation, plans to provide 20% of this amount,” said Vladimir Zarudny.