EEF 2018
The Far East as a Financial and Offshore Centre
For the first time, we saw a serious gap between the development level of business activities in the Far East and that of the financial market. <...> If we take a look at the Far Eastern financial market we will see no competition at all – almost all loan services are provided by three state-run banks, the level of penetration of loan products for entities, for individuals, the level of penetration of insurance products – we are the last in the Russian Federation according to these criteria. At the same time, all those investors, both Russian and foreign, who come to the Far East, need access to high-quality financial services, professional project consulting services, which we don’t have in the Far East