YURY TRUTNEV: DEVELOPMENT OF RUSSIAN FAR EAST’S LOGISTICS CAPABILITIES TO REDEFINE GLOBAL TRANSPORTATION MAP
20 October 2016
The Deputy Prime Minister and Presidential Plenipotentiary Envoy to the Far Eastern Federal District was speaking at the China Overseas Investment Fair in Beijing, reports a press release from the Ministry for the Development of the Russian Far East.
Trutnev noted that a new strategy based on international best practices has been drawn up for the Far East. He also commented that a new legislative framework has been created over the past three years, with investors offered tax incentives, simplified administrative processes, and financing for infrastructure facilities.
“Thirteen Advanced Special Economic Zones are currently operational, and five regions of the Russian Far East have free ports. Twenty-four major investment projects benefitting from state financial support are under way. These activities will entail the establishment of 370 new enterprises in the Russian Far East. The total volume of financing for these projects is RUB 1.24 trillion,” said Trutnev.
He also drew attention to the fact that China has comfortably taken the top spot among investors in the Russian Economy.
“A number of major investment projects are being implemented in the Russian Far East with Chinese participation. A cement plant has already been constructed in Amur Region. A project from the same investor to build an oil refinery is currently under way. A timber processing plant is currently being constructed in Khabarovsk Territory, as well as a metal works plant in the Jewish Autonomous Region and a brick and building block plant in Yakutia,” said Trutnev.