GOVERNOR OF KHABAROVSK TERRITORY: FREE PORT REGIME IN VANINO WILL ATTRACT INVESTORS TO MAJOR PROJECTS IN COASTAL REGION
07 July 2016
The port was afforded preferential status on 4 July, when Russian President Vladimir Putin signed a federal law extending the free port regime to key harbours in the Russian Far East.
According to the Governor of Khabarovsk Territory Vyacheslav Shport, the new benefits will help investors to bring to fruition complex investment plans for agriculture, industry and other fields. The simplified visa regime will be a boon for the tourism and hospitality industries, reports Khabarovsk Territory’s official media portal.
“Along with the advanced special socioeconomic zones and the special economic port zones, the free port regime is another important mechanism for the dynamic development of our regions. The Russian Far East has now become a focal point for the country. This is confirmed by the speed at which key decisions have been made at the federal level. Investors have been given a clear sign and are willing to invest funds. Depending on the sector they are working in, they have a choice of which preferential regime to make use of”, said Shport.
Logistics and fish processing will be key industries in the Vanino district, where several investment projects are already under way, some of them large-scale, such as a transportation and handling complex for coal transshipment. The new regime is expected to attract more than RUB 40 billion of investment to the municipality by 2021 and to create over 2,600 jobs in the region.