The President opened the Far East for investors

12th September 2015

Government will provide significant preferences to investors in the Far East, said Vladimir Putin at the plenary session of the Eastern Economic Forum in Vladivostok on 4 September 2015. Не urged to improve business climate in the region considerably including through to creation of free ports at key harbors. The President also proposed to the partners from the Asia-Pacific region to establish major research centers like CERN – so that they could function not only in Europe.

“Today we see the future of the Far East as one of the key centers of social and economic development of the country, which should be integrated into the fast-growing Asia-Pacific region”, - said the head of the state.

In recent years there have been several dozens of major projects.

"Many of them have great national, if not global importance” - said the President. As an example he cited the construction of the pipeline “Power of Siberia”, spaceport “Vostochny Cosmodrome”, the opening of the Federal University, modernization of BAM and Transsib, etc.

The head of the state described the main priorities of the Far East – an active social development policy, the formation of modern transport and education infrastructure, freedom for business. Russian Far East should successfully compete with the leading business centers, he said.

Speaking about territories of advanced development and free port “Vladivostok”, Vladimir Putin said that partners will receive truly exclusive opportunities and preferences and proposed to extend the regime of a free port to other key harbors of the region.

“If an investor invests funds into the development of new fields and production in the Far East, we will consider assistance in creating the necessary infrastructure,” - promised the President, explaining that the state will benefit from that.

Business climate in the Far East needs to be considerably improved, continued the head of state, calling for a serious improvement of training and management skills. President reminded to the governors that business environment in the region is their direct responsibility, and the results of work of the regional teams will be evaluated on the basis of entrepreneurs’ opinions.

For citizens who want to locate their business in the Far East, we will create additional opportunities and provide free land – up to the hectare starting from 2016, Vladimir Putin said. It will also contribute to the development of vast territories of the Far East region and attract new residents. The President urged the Russian government to submit a draft law to the State Duma in the shortest possible time and to simplify the procedure for obtaining land plots, including with the use of information technology.

All basic conditions for doing business should be competitive, said the President. Specific measures to reduce transport and other costs should be included into the the budget. Vladimir Putin also appealed to the Ministry of Energy of Russia to provide attractive tariffs for electricity.

The President also called for consolidating the resources of the federal budget, government programs, development institutions, state-owned companies and companies with state participation. Only Rosneft with partners plans to invest more than 1.3 trillion rubles into the Far East. This will create 100 thousand new jobs, and the multiplier effect will reach 6.6 trillion rubles.

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