24 May 2018
Agreements on large-scale investment projects in Russia’s Far East were signed on 24 May, the first day of the St. Petersburg International Economic Forum 2018.
Russia’s Far East Investment and Export Support Agency, MKR Kapital and Sojitz Corporation, a Japanese trading company, signed a memorandum of intent to implement a large-scale agricultural investment project in the Mikhaylovsky Advanced Special Economic Zone in the Primorsky Territory. Japanese investors intend to establish a modern rice and legume growing facility there, complete with a rapeseed oil factory at a total cost of $85 million.
The Far East Development Corporation signed two documents, an agreement with NK Lotos on a greenhouse complex for growing organic vegetables using modern technology in the Primorsky Territory and an agreement with Technonicol Corporation on a facility for manufacturing plastic gutters and recycling polymers in the Khabarovsk Territory.
Russia’s Far East Investment and Export Support Agency also signed a cooperation agreement with the Belgian-Luxembourg Chamber of Commerce, which will help European investors learn more about exemptions available in Russia’s Far East. An agreement between Russia’s Far East Investment and Export Support Agency and the Middle East Society Foundation envisages development and expansion of cooperation between the Middle Eastern business community and Russia’s Far East Federal District.
In addition, Russia’s Far East Investment and Export Support Agency, the Primorsky Territory Administration and the St. Petersburg International Mercantile Exchange signed a cooperation agreement on increasing investment and export support.
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