Russia’s Gref Says Investment Zones Will Help Diversify Economy

Russian Economy Minister German Gref said a final agreement on investment zones next year will help wean Russia, the world’s largest energy producer, away from its dependence on oil and gas for economic growth.

President Vladimir Putin’s government is working on the last details of a plan to create by 2007 special economic zones that will give companies lower tax bills and other incentives and encourage growth in sectors not related to energy, including the automotive, computer and appliance industries.

Bloomberg