A bill on a new mechanism of SPIC will be discussed at the State Duma on 28 May

A bill on a new mechanism of SPIC will be discussed at the State Duma on 28 May


RNS.- The State Duma will discuss the draft federal law on a new mechanism for the support of private investment “Special Investment Contract 2.0” (SPIC 2.0) at its first meeting on 28 May 2019, as told by the Russian Minister of Industry and Commerce Denis Manturov.

“The enhanced SPIC mechanism will focus on the development and transfer of technology. In fact, the priority will shift from the solution of main investment problems towards the development and transfer of new technological innovations. The competitive selection will be conducted on the principles of publicity within the framework of the new mechanism, while eliminating the entry threshold for the minimum amount of investment and the maximum term of the SPIC will increase to 20 years” – said Manturov, as reported by the press office of the ministry.

The ministry is of the opinion that the adoption of the aforementioned bills will enable the development of competition during the implementation process of the SPIC and attract long-term private investments in the projects, which involve the introduction of cutting-edge technologies.