TWO MORE COMPANIES BECOME RESIDENTS OF FREE PORT OF VLADIVOSTOK
27 June 2016
Polymer Complex and Vostokpromsnast have signed agreements with the Far East Development Corporation on operating at Free Port of Vladivostok.
“We are an existing company, a going concern that manufactures packaging. The emergence of the Free Port has encouraged our company to realize our long-held expansion plans. The Supervisory Council has approved our project for setting up production of plastic kitchenware. We decided not to incorporate a new entity, as separating accounting records for the existing and new operations won’t be a problem,” said Inna Yugai, CEO of OOO Polymer Complex.
In particular, the company was attracted by the possibility of using the free customs zone regime to bring in expensive South Korean-made equipment.
Vostokpromsnast is planning to set up production of industrial fishing gear. Their workshop will manufacture fishing nets using waste-minimisation technology and feedstock sourced from domestic producers.
“Every resident of an Advanced Special Economic Zone or Free Port of Vladivostok is important and will receive all-around support from our Corporation. Residents’ investment projects benefit the areas where they are located,” said Denis Tikhonov, CEO of Far East Development Corporation.
Total investments in the projects will exceed RUB 42 million and 46 jobs will be created.