MINISTRY FOR THE DEVELOPMENT OF THE RUSSIAN FAR EAST: CHINA TO MOVE NEW PRODUCTION FACILITIES TO RUSSIAN FAR EAST
14 April 2016
Interviewed by the newspaper Rossiyskaya Gazeta, Alexander Galushka, Russia’s Minister for the Development of the Russian Far East, said that China would transfer new production facilities to Russia.
China intends to relocate 12 priority industries to the Russian Far East, but old facilities will not be included. “We are talking exclusively about investments in creating new, modern facilities”, said Mr. Galushka. He also emphasized that the initiative to attract Chinese investors had come from Russia: “The initiative from this country [Ed. – China] is to build facilities abroad, and China will build them where it finds suitable conditions, whether in Asia, in America, or in Europe. These are global investments, and there is serious competition between whole countries to win them.”
The conditions being offered to the Chinese are no different from similar offers made to other countries, noted the Minister: “Competitive investment conditions have been established in the Russian Far East, and we are seeing how popular they are among Russian and foreign businesses, including those from China. Our country is interested in attracting quality investors ready to build new, modern facilities, create jobs for Russians, pay taxes, and comply with Russian legislation, including environmental.”
As an example of a country that has had particular success in attracting foreign investment, Mr. Galushka cited Kazakhstan, which has attracted billions of dollars in investment from China in new manufacturing and logistics facilities, thereby developing its own economy.