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Analytical digest
23.11.2018
Economic Development of the Russian Far East

Following the results of the 4th Eastern Economic Forum, Vladimir Putin confirmed his earlier orders. The President of Russia’s instructions mainly concern the development of breakthrough technologies, innovative entrepreneurship, and education in the Far East. Also, dates for Eastern Economic Forum 2019 are set now. The 5th Eastern Economic Forum will be held on September 4–6, 2019 on the Far Eastern Federal University campus in Vladivostok.

In late October 2018, the first representative office of the Far Eastern Federal University was opened in Japan.

Following a meeting of the Presidium of the State Council held on September 10 in Vladivostok, President Vladimir Putin ordered cargo-and-passenger vessels to be built for the Far East. The government of the Russian Federation should ensure that ships are built in order to set up regular services between the Kamchatka Peninsula, the ports of Sakhalin, the Magadan Region, Primorsky Krai, and the Kuril Islands.

The Russian Academy of Sciences will help develop a plan for promoting science in the Far East. The development concept involves setting up new scientific institutes, including an Institute of Oil, Chemistry, and Gas, an Institute of Shelf Geology of Far Eastern Seas, a Centre for Nanotechnologies, a Centre for High Laser Technologies, and a number of other scientific and engineering divisions.

148 new companies have been opened in the Far East. Implementation of these projects has created more than 12,500 new jobs. Total investment was RUB 159 billion. In all, 1,375 investment projects with a total investment of RUB 3.8 trillion have been announced for implementation in the Advanced Special Economic Zones and the Vladivostok Free Port.

A Japanese investor Tokyo Rope International is considering the possibility of launching a number of projects in the Far East. These include building a factory for producing innovative strip-wound cores for power transmission lines and a wood processing factory.

For these and other news relating to the economy of the Russian Far East, see the October issue of Roscongress’s Economic Development of the Russian Far East news digest.

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