Free economic zones and territories of advanced development: modern problems

Abstract

The article examines the situation with free economic zones (FEZ) and territories of advanced development (TAD) in modern Russia. The purpose of the article is to identify the problems of the functioning of FEZ and TOP, as well as the analysis of successful projects of free economic zones in Russia. The development of economic potential is one of the main goals of managing the economy of the country. Against this background, an important role is played by free economic zones (FEZ), as well as territories of advanced development (TAD), which aim to create favorable economic conditions, promote the socio–economic development of the state, attract foreign investment, as well as the creation of high–tech industries, the development of transport infrastructure and the tourism industry. A clear and thoughtful creation and functioning of free economic zones, which is impossible without sound government programs and effective local governance, is a factor in the long–term sustainable development of both the country and its individual regions.The article examines the current situation with free economic zones (FEZ) and territories of advanced development (TAD) in modern Russia within the framework of their functioning and prerequisites for their creation. The research results consist in identifying the problems of the functioning of free economic zones, identifying structural problems that represent errors in the creation and functioning of such territories that require immediate solutions soon, as well as analyzing projects of free economic zones in Russia that are successful and cost–effective within the framework of the regional development program.

Keywords

• free economic zones
• foreign investments
• export trade
• import substitution
• foreign capital
• regional development