The Legal Status of Free Economic Zones in the USSR

International economic life and the striving for more effective utilization of the advantages of the international division of labor has led to the creation of special economic zones in many countries. These exist in various forms in the Democratic People's Republic of Korea, France, Vietnam, Bulgaria, Hungary, Mexico, Ireland, South Korea, and a number of other countries. As regards the USSR, we have posed the question of forming joint venture zones, or free economic zones (hereafter FEZ) where it will be possible to provide conditions more advantageous than in other regions of the country or in other branches of the economy not only for foreign capital investments and the activity of joint ventures and foreign firms (tariff advantages, tax advantages, etc.), but also for the economic activity of Soviet state and cooperative enterprises.