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New tools for Russian Far East development attract $1bln from Japan

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New tools for Russian Far East development attract $1bln from Japan

New tools for Russian Far East development attracted in the region $1 billion of direct investments from Japan, the press office of the Ministry for Development of Russian Far East announced following a meeting between the Ministry’s head, Alexander Galushka, and Japanese Economy and Industry Minister, Hiroshige Seko, held in Moscow.

Negotiations were held on the threshold of an official visit of Russian President Vladimir Putin to Japan, scheduled for December 2016.

The parties discussed a Plan for intensification of economic ties between Japan and Russia in the Far East. The document contains 18 priority areas and projects in the field of energy, transport, industry, medicine, agriculture, development of urban environment, establishing of investment platform.

The Minister pointed out that new tools for Russian Far East development help to animate relations. These are territories of advanced development and Vladivostok Free Port, as well as support for investment project implemented in the region.

Such measures allowed to attract over $18,5 billion of direct investment, including $1 billion from Japan.

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