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Leonid Petukhov: The Russian Far East Investment and Export Agency Guides 750+ Investment Projects

The Russian Far East Investment and Export Agency (FEIEA) maintains over 750 projects implemented in the Far Eastern Federal District, Leonid Petukhov, CEO of the Agency, commented on the results of today's conference "100 Steps to Favorable Investment Climate".

According to him, FEIEA is the "youngest" federal development institute of the Far Eastern Federal District, which has started its work in 2016, and already reached its projected capacity.

Thus, the Agency's employees work on more than 13 priority sectors: mining, forest, mechanical engineering, medicine and pharmaceutics, fishery and aquaculture, agriculture, electric power, transport and logistics, tourism and petrochemistry.

Only in 2017, FEIEA has attracted 37 investment projects with aggregate amount of capital invested of 48 billion RUB. Initiators of these projects have already become residents of Advanced Special Economic Zones and the Free Port of Vladivostok, another 11 projects (106 billion RUB) will submit applications later in the year. In addition, there are 150 new investment projects developed by FEIEA, for the purpose of implementing which it is planned to invest 2.8 trillion RUB.

Furthermore, working contacts with business community of the Asia-Pacific Region countries have been established, in particular, the Korean Investors Support Center was opened on November 24, within which " hot line" for the Korean investors will begin to operate later this year. The agreement with JBIC (Japanese Bank for International Cooperation) has been signed earlier on the creation of a platform for the Japanese investments support in the Russian Far East, and the agreement with the China Overseas Development Association (CODA) has been reached to create a joint Center for Attracting Chinese investments into the Far Eastern Federal District. The Agency has opened its representative offices in China (Beijing, Harbin, Shanghai), and it is about to open new ones Seoul and Tokyo early in 2018.

As a reminder, during the speech at the Federation Council on November 22, Alexander Galushka, Minister for Development of the Russian Far East, said that FEIEA’s portfolio included new investment projects for an overall amount of 1 trillion RUB. 

"I would like to emphasize, the investments attracted represent not a one-off event. We’ve built a comprehensive system of regular attraction of new investments and implementation of investment projects", noted the Minister for Development of the Russian Far East.

Author: Elena Shilova
Telegram Channel of Ministry for Development of the Russian Far East