The administration of the Vladimir Region and the Beko brand have signed an agreement on providing state support to investment activity.
The company, which is implementing an approved investment project in the Kirzhach County, has been provided state support in the form of tax incentives: the property tax is set at 1.5% until 2025 and the corporate tax at 16% until 2023. The capital investment in the project exceeds RUR 876 mio ($13 mio). According to the agreement, Beko takes on the obligation to preserve the number of jobs and the volume of production of no less than 50% as approved by the investment project.
The brand Beko belongs to the major Turkish concern Arcelik. The concern is Europe’s third largest producer of household appliances and a brand that is marketed in 130 countries. Beko entered the Russian market in 1997.