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  • MINISTRY FOR THE DEVELOPMENT OF THE RUSSIAN FAR EAST: 70% OF SPACE IN RUSSIAN FAR EAST ASEZS FILLED

    18 April 2016

    Minister for the Development of the Russian Far East Alexander Galushka announced that 70% of the available space in advanced special economic zones (ASEZs) in the Russian Far East has now been filled. The Minister was speaking at the second Yalta International Economic Forum.

    The Minister explained that new investors would also be able to benefit from the infrastructure created within the regions, reports Interfax.

    Since the introduction of these special economic development tools in the Russian Far East in 2015, the region has received RUB 950 billion in investment. Of this, “RUB 880 billion is private investment, and RUB 70 billion is public… Hence, the ratio of public investment to private is 1 to 12”, Mr. Galushka added.

    The RUB 1 trillion investment mark is set to be passed by the end of the month; according to the Minister, “another major project in Yakutia is being processed by the Russian Government – development of the Verkhne-Munskoye ore field.” According to the project terms, a private investor plans to invest RUB 68 billion in the region.