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Russian government pledges to support investors in housing, utilities in Far East

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Russian government pledges to support investors in housing, utilities in Far East

Special measures supporting businessmen and companies investing in the housing and utilities sector of the Russian Far East are to be taken by the Construction Ministry of Russia and the Russian Far East Development Ministry.


This is what a Deputy Head of the Construction Ministry of Russia, Andrey Chibis, announced on the 3rd of September, within the framework of the Eastern Economic Forum held in the Russian city of Vladivostok. According to him, now, both ministries are developing modifications into the legal acts, as well as a new enabling mechanism, which is to come into effect as early as 2017.

With the purpose to facilitate the process of acquiring government support, the generic procedure of projects selection by the Construction Ministry of Russia and the Russian Far East Development Ministry is to be introduced.

Apart from that, a department in charge of investments encouragement into the region’s housing and utilities sector is planned to be established on a basis of the existing institutions of the Far East development.

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