AN OFFSHORE ZONE MAY BE SET UP IN THE FAR EAST

18 June 2016

AN OFFSHORE ZONE MAY BE SET UP IN THE FAR EAST

Deputy Prime Minister and Presidential Plenipotentiary Envoy to the Far Eastern Federal District Yury Trutnev announced, after the meeting of the Supervisory Board of Vladivostok Free Port, that an offshore zone might be set up in the Far East, according to RIA Novosti.

Following the Council’s meeting, Yury Trutnev answered journalists’ questions and announced that the idea of setting up an offshore zone in the Far East is worth considering.

“Our Vladivostok Free Port and the Priority Development Areas are not, of course, offshore zones; that is another matter, these are preferential zones. In principle, though, I don’t think this topic, the possibility of setting up an offshore, must be closed. It is worth thinking about. We are living in a competitive space. If other countries pull the blanket over to their side, we need to hang on to it, otherwise they might pull it off completely,” he told the journalists.

The idea of setting up an offshore zone in the Far East was raised in March by Prime Minister Dmitry Medvedev. In his opinion, this would promote a return to Russia of money from other offshore zones and also help in the region’s development.

AN OFFSHORE ZONE MAY BE SET UP IN THE FAR EAST

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