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  • YURI TRUTNEV: EASTERN ECONOMIC FORUM – ANOTHER STEP IN THE DEVELOPMENT OF THE FAR EAST

    17 August 2016

    Preparations for the Forum were discussed by participants in a meeting of the Organizing Committee under the guidance of Chairman of the Organising Committee, Deputy Prime Minister and Presidential Plenipotentiary Envoy to the Far Eastern Federal District Yuri Trutnev.

    Minister for the Development of the Far East Alexander Galushka and representatives of federal authorities and Far Eastern regions took part in the event.

    “In the order of 2.5 thousand participants from over 30 countries are expected in Vladivostok. We have taken into account the interests of investors, our colleagues in developing the Far East. The application quote is now virtually filled, yet we will do everything possible not to refuse anyone who wants to work in the Far East”, Trutnev emphasised.

    He went on to speak about the concept of the Second Eastern Economic Forum.

    “At the first Forum, we presented those instruments for developing the Far East that had already been created on the instructions of Vladimir Putin. Field work, the search for new investment projects and creation of priority development areas were launched; the law on Free Port of Vladivostok had been signed but was not yet in effect. All these tools are now in active use. The projects are totalling nearly 300 and investment exceeding RUB 1.16 trn. These projects are already bringing a 10 per cent increase in investment in the Far East, providing for positive economic development and exerting a significant impact on migration processes. Over the first six months of the year, industrial production in the Russian Far East increased by 5.4 per cent. At the Second Eastern Economic Forum, we will report to both current and future investors on how we are supporting investment in the Far East, how the mechanisms of state support are working”, the Deputy Prime Minister announced.

    Yuri Trutnev noted that the existing mechanisms for development of the Far East were not ideal and required constant improvement.

    “To us, it is very important to get feedback on how investors perceive application of instruments, what more they want from us. That is what the coming Forum is for. We want to show the difference over last year and how the development tools are working. The Eastern Economic Forum is not just an important event but another step in the development of the Far East. Dmitry Medvedev has signed a new state programme for development of the Far East up to 2025, so we can speak confidently with investors about work going forward”, the Deputy Prime Minister specified.