Free economic zone as a tool of social and economic development of the region

The article deals with the issues offormation and functioning offree economic zones (FEZ). Taking into account the foreign experience of functioning of special economic zones, recommendations that can be used in domestic practice are presented. Special attention is paid to the analysis of the creation and specificity of FEZ functioning in the Republic of Crimea. The correspondence of the regional environment to the conditions for the creation of free economic zones is described. In particular, it is noted that the Crimea has a favorable transport and geographical position, which is confirmed by geophysical features, unique natural resource potential, sufficient provision of infrastructure facilities. Tax preferences are considered and customs privileges for participants of the FEZ of Crimea are indicated. It is emphasized that the mechanism of its activity should be adequate to the market conditions of management with a high level of state support, and this will ensure the implementation of the main development priorities: the formation of the hospitality industry, development of the ugro-industrial complex, science-intensive industry on the basis of an effective use of the region's economic potential.