Russian ports to establish special economic zones

Moscow: The lower house of Russian parliament has passed the final reading of a bill that will allow the establishment of special economic port zones at international seaports, riverports, and airports.  The move would allow Russian ports to compete with western ports as well as draw investment to the areas. The zones, which will feature lower property rents in addition to numerous trade subsidies, are limited to a 49 year period that cannot be extended.  [12/10/07]