Far East Development Ministry, Itochu sign cooperation memo
VLADIVOSTOK. Sept 18 (Interfax) - Russia's Far East Development Ministry and Japanese corporation Itochu have signed a trade and investment cooperation memorandum.
The ministry reported that the memo demonstrates that Itochu is willing to discuss specific proposals for trade and investment projects in Russia's Far East.
"Itochu Corporation has complete information on the favorable conditions for the implementation of investment projects in the Far East: the establishment of priority development territories, tax breaks for investors, substantial simplification of administrative procedures associated with investment projects and all round support for investors at each stage of project implementation," the ministry said.
Itochu hopes to receive very appealing terms for investment in priority investment territories and has expressed great interest in these.
The memorandum reflects a willingness to discuss terms for implementing projects involving trade and investment and to consider mutual proposals for trade and investment cooperation.
It also shows a willingness to establish competitive conditions for doing business at an international level and implementing investment projects in the Far East.
