New development mechanisms draw 1.325 trln-ruble investment in Far East - Galushka
VLADIVOSTOK. Jan 12 (Interfax) - New development mechanisms have drawn 1.325 trillion rubles of investment in the Russian Far East, Far East Development Minister Alexander Galushka said.
"The sum of 1.3 trillion stands for 475 investment projects. These are new plants, factories, infrastructures, and mining and processing complexes to be ready in the Far East by 2025. They will create 80,000 jobs," Galushka said at the State Duma's Government Hour on Wednesday.
Importantly, the new investments help diversify the economic structure of the Far East, as 73% of those projects are unrelated to the mining of mineral resources. These are processing plants, logistics, agriculture and tourism, he said.
Galushka mentioned rapid development territories, porto franco Vladivostok, and infrastructural and financial support to investment projects as new development instruments applied in the macro-region.
Twenty-five plants were started up in the Khabarovsk and Primorye territories, the Amur region, Sakhalin and Yakutia in 2016 by means of the new instruments. "We understand that this is only the first stage. Fifty new plants will be started up in 2017, and over 280 plants will become operational within the next three years to create 34,000 jobs," the Far East Development Ministry quoted Galushka as saying.