A fundamental agreement № C–219-ОС/Д25, delegating managing functions of the special economic zone near Verkchnyaya Salda, from the Ministry of Economic Development of the Russian Federation to the OAO «SEZ «Titanium Valley», was signed on the 21st of July 2012.
Signing of the agreement became a result of law amendments introduction to the Russian legislation. Amendments to the legislation of special economic zones, which assumed delegation of the managing functions to the managing companies of the SEZs, were enforced on the 1st of January 2012.
«From now on, the managing company OAO «SEZ «Titanium Valley» will be independently responsible for the number of technical functions» - declared General Director of the OAO «SEZ «Titanium Valley» Artemiy Kyzlasov. «This agreement simplifies life for the residents and significantly reduces time of decision-making on the project. It makes work with investors and municipalities more productive and effective». The agreement was signed by the Ministry of Economic Development of the Russian Federation, represented by the Deputy – Minister Oleg Savelev, and OAO «SEZ «Titanium Valley», represented by the General Director Artemiy Kyzlasov.