Subject. Implementation of the industrial potential of the Russian Federation under sanctions pressure, improving the standard of living. Objectives. Assessment of the economic development prospects of new regions of the Russian Federation. Methods. Various methods of economic analysis were applied. Results. The prerequisites for economic growth in the new regions of the country are a favorable economic and geographical position, significant scientific and educational potential; however, the prospects for the development of these regions are negatively affected by factors such as the critical condition of the energy, transport, social, and industrial infrastructure, demographic crisis, and technological backwardness. Conclusions. A free economic zone is primarily a tool that contributes to the creation of a basic investment climate in the new regions of the country.
Keywords: free economic zone, socioeconomic development, industry, sanctions, new regions of the Russian Federation
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