Special Economic Zones as Growth Points for the Development of the Russian Economy

Abstract

The subject of the study is the special economic zones of Russia (SEZ) under the conditions of sanctions imposed by the countries of the collective West. The purpose of the work is to substantiate the possibilities of the SEZ in terms of increasing the potential of internal sources of economic growth that contribute to ensuring technological sovereignty and innovative development, as well as the formation of a supply — side economy. It is shown that the state is interested in creating SEZs as sources of new industries and jobs, including in new territories of Russia. The potential for economic recovery of Russian regions applying a preferential economic cooperation regime is noted, similar to the effect obtained from the activities of China’s special economic zones, which ensure employment growth and poverty reduction of the local population. It has been established that among the Russian SEZs, industrial production and technical implementation zones prevail, which are in demand and effective, despite the sanctions against the Russian economy. It has been revealed that private investors in the SEZ of Russia are mainly domestic residents due to the introduction of a sanctions ban on foreign residents, overcome through the use of offshore zones that allow foreign businesses to invest capital in the Russian economy. Conclusions are drawn about the need for state support for SEZs in Russia.