8 April 2020

2,283 government-supported projects under way in Far East

President Vladimir Putin recently held a meeting to discuss socioeconomic development in the Far East and the Arctic. In attendance were Deputy Prime Minister of the Russian Federation and Presidential Plenipotentiary Envoy to the Far Eastern Federal District Yury Trutnev and Minister for the Development of the Russian Far East and Arctic Alexander Kozlov. 

“To date, 2,283 projects are being implemented in the Far East with government support. Total investment already made in the area has exceeded RUB 1 trillion – the exact figure is RUB 1.16 trillion. These funds have come mainly from investors, with RUB 22.5 of private investment for each rouble of public expenditure. Industry grew at a rate of 6% in 2019. It should be noted that growth rates for industry and investment in equity have been 2–2.5 times higher than the Russian average for five years running now,” said Trutnev.

During the meeting, it was also highlighted that RUB 93 billion has been invested in the Far East’s social infrastructure over a period of three years. Three hundred facilities have already been built, with a further 200 refurbished. In addition, work is continuing on the Far Eastern Hectare programme, with almost 80,000 people having received plots of land. 

Special emphasis was put on building social infrastructure facilities in the Republic of Buryatia and Transbaikal Territory. In particular, plans are in place in Buryatia to construct three hospitals, one rural health post, one school, and 12 sports complexes and grounds, as well as to renovate 70 facilities. Transbaikal Territory will see the construction of 40 rural health posts, two schools, three nursery schools, two sports complexes, 60 sports grounds, and eight cultural facilities, as well as the renovation of 136 social facilities. 

A new system of incentives for investors in the Arctic was also discussed at the meeting. The corresponding draft bill has passed its first reading in the State Duma, and work on the document is ongoing. 

 

Source: Kremlin.ru

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