Russia to Draw Up Legislation for Disputed Isle Development
Moscow, Oct. 19 (Jiji Press)--Russian President Vladimir Putin has instructed his government to draw up legislation by Aug. 1, 2022, for creating a special zone on northwestern Pacific islands disputed with Japan, according to a media report.
Putin last month unilaterally announced his plan to create the zone, where businesses will be exempted from paying tariffs and corporate tax, at the government-hosted Eastern Economic Forum in Vladivostok in the country's Far East.
The Russian-administered islands, which Tokyo calls the Northern Territories, were seized from Japan by the former Soviet Union near the end of World War II. The territorial dispute has prevented Tokyo and Moscow from concluding a World War II peace treaty.
According to the report by the ITAR-Tass news agency Monday, Russian Deputy Prime Minister and Chief of the Government Staff Dmitry Grigorenko said during his visit to one of the islands Sunday that he believes the plan to develop the region will be executed promptly.
While Russian government officials usually only visit the region for a day, Grigorenko's trip to the island of Etorofu lasted three days from Friday.
[Copyright The Jiji Press, Ltd.]