Arab Today, arab today medvedev signs law to stimulate domestic shipbuilding
Last Updated : GMT 15:54:33
Arab Today, arab today
Arab Today, arab today

Medvedev signs law to stimulate domestic shipbuilding

Arab Today, arab today

Arab Today, arab today Medvedev signs law to stimulate domestic shipbuilding

Moscow - Ria Novosti

Russian President Dmitry Medvedev signed a federal law on Monday offering tax and other incentives to stimulate domestic shipbuilding and shipping companies. The law, already approved by the lower and upper houses of Russia\'s parliament, offers Russian shipyards the status of industrial and production special economic zones in a bid to boost their output. Russian shipyards will be exempt from land and property tax for 10 years while ship owners will also be tax-exempt from profits received from the operation or sale of Russian-built vessels. The new law will also exempt domestic shipbuilding and shipping companies from insurance payments to Russia\'s Pension, Social Insurance and Compulsory Medical Insurance Funds. Russia\'s shipping industry has experienced two decades of crisis caused by the collapse of the Soviet Union and disruptions in the supply chain across the country, and the country is now largely reliant on foreign shipyards for the construction of new ships. The new law, which aims to revive the domestic industry, offers only half-hearted measures to remedy the situation, analysts said. \"To boost domestic shipbuilding, the Russian government needs to review its entire financial policy and introduce a principally different taxation regime. Special economic zones are not enough to get things off the ground,\" said Investcafe analyst Dmitry Adamidov. Shipbuilding is a stage by stage process and few suppliers will be able to qualify for special economic zones status, he said. He also criticized the lack of an adequate finance system for the industry. \"If a supplier fails to meet the deadline, the entire project may fail. Under the current financing scheme, a shipyard has to borrow funds on its own and may have to use up all its profits to pay interest,\" he said. At the same time, the idea of providing support to the domestic shipbuilding industry is right, he said. \"Companies should rebuild the very close operational ties that were lost after the breakup of the Soviet Union and which exist for any western shipyard where market mechanisms rule out any problems with price and supply uncertainty,\" he said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today medvedev signs law to stimulate domestic shipbuilding Arab Today, arab today medvedev signs law to stimulate domestic shipbuilding

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today medvedev signs law to stimulate domestic shipbuilding Arab Today, arab today medvedev signs law to stimulate domestic shipbuilding

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today What's the reason and what you can do

GMT 05:44 2017 Sunday ,22 October

What's the reason and what you can do
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today IS caliphate's end 'in sight' after Raqa fall

GMT 14:48 2017 Sunday ,22 October

IS caliphate's end 'in sight' after Raqa fall
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 10:18 2017 Saturday ,21 October

How to do open-heart surgery

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday