CrimeaPRESS reports:
The government of Sevastopol, during a meeting chaired by Governor Mikhail Razvozhaev, approved the procedure for evaluating an investment project, in respect of which it is planned to conclude agreements on the protection and promotion of investments. This means that the investment project will be checked for the effectiveness of the use of Sevastopol budget funds. The assessment is supposed to be based on four criteria: social, economic and budgetary efficiency, as well as the efficiency of the investment project.
This mechanism is synchronized with the possibility to be a member of a free economic zone. Thus, FEZ participants will be able to receive reimbursement for infrastructure costs , — the press service of the Government of Sevastopol quotes Denis Profatilov, director of the Department of Economic Development.
Recall that the Agreement on the Protection and Promotion of Investments is an agreement concluded between an investor and a public legal entity. Within the framework of such an agreement, the Government of Sevastopol undertakes not to apply laws that may worsen the implementation of the investment project.
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