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11:19 | Sep 02 | 2014

Vladimir Putin: Far East is one of the national priorities

 On September 1 Russian President Vladimir Putin identified three factors of the complex development of the Russian Far East at the meeting in Yakutsk. They relate to improving transport accessibility, creating conditions for attracting investment and formation of the priority development territory.

“Most of problems of the Far East require package solution. All ministries and departments should deal with it. Main goal is to provide a lift and advanced development of the Far East. Turn it into a successful and attractive region for living and doing business. Firstly, you need to provide better transport accessibility, remove infrastructure constraints. It is necessary to upgrade the Baikal-Amur Mainline and the Trans-Siberian Railway in accordance with the schedule. Without this, it would be impossible to effectively implement the proposed projects. Secondly, it is important to create conditions for attracting additional investment, both domestic and foreign. I am talking about investment in traditional and new sectors, including the field development, the formation of infrastructure, construction and agricultural development. At one time the Far East and the Baikal region Development Fund was created, but it had never worked. In this respect, for business development it is necessary to use best practices of the Asia-Pacific Region. And thirdly, it is the formation of the priority development territories, which under the terms of investing and doing business should be competitive in relation to the key centers of the Asia-Pacific Region”, – said Putin.

The President stressed that one of the most important tools is the creation of Priority Development Territories. “The relevant law is to be submitted to the Duma in the autumn session. This process should be completed as soon as possible; otherwise the new law will hang in the air”, - mentioned the President.

The meeting on state support for priority investment projects and priority development territories in the Far East was attended by the heads of the key federal ministries, members of the Federation Council, the State Duma, heads of federal subjects, including interim Head of Yakutia Yegor Borisov, as well as representatives of large companies and investors.


Source: YSIA