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  • EASTERN ECONOMIC FORUM OPENS IN VLADIVOSTOK

    01 September 2016

    Deputy Prime Minister of the Russian Federation, Presidential Envoy to Russia’s Far East and Chairman of the Forum Organizing Committee Yury Trutnev greeted the EEF participants.

    On September 2, the Second Eastern Economic Forum opened on the campus of Far Eastern Federal University. Mr Trutnev pointed out that, during the past year, major changes had occurred in the region.

    “Most important is that all instruments of state support are already active. The main reporters at the Forum will be investors who are actually working and can share how this system functions and what needs to be improved,” Mr. Trutnev emphasized.

    The Vice-Premier told me that 92 agreements worth RUB 1.8 trn were signed at the First Eastern Economic Forum. These resulted in signed contracts to the tune of RUB 1.116 trn. Contracts amounting to more than RUB 600 bn have already passed the design stage and are now at the stage of construction and installation works.

    “Today, 140 agreements totaling RUB 1.6 trn have been prepared for signing,” said Mr Trutnev as he shared his expectations from the Forum.

    At the opening ceremony, Minister for Development of Russian Far East Alexander Galushka addressed the Forum participants. In his words, in H1 2016, the index of industrial production growth in Russia’s Far East amounted to 105.4%, while the growth rate of the aggregate profit of companies operating in the region more than doubled.

    “What’s most valuable for us is that Russia’s Far East can boast the best demographic dynamics in the last 25 years: four regions out of nine registered population growth and this is just a beginning,” said the Minister.

    Mr Galushka noted that the new economic development programme had already brought its first results.

    “During the last year, 172 projects were announced in 13 ASEZ with investments reaching RUB 514 bn; 122 investors put RUB 173 bn into delivery of their projects at Free Port Vladivostok; 13 projects worth RUB 292 bn in total received state support for creating the requisite infrastructure; nine projects worth RUB 85 bn are being delivered by the Far East Development Foundation. The key areas for investments include shipbuilding, oil refining, agriculture, the transport-logistics infrastructure, and development and processing of natural resources. Thanks to the new development tools, Russia’s Far East is competitive in terms of business environment and may offer better terms to investors”, the Minister underscored.

    The Second Eastern Economic Forum is taking place on September 2–3, 2016. The forum venue is the campus of the Far East Federal University.