SUPPORT CENTRE FOR JAPANESE INVESTORS CREATED IN RUSSIAN FAR EAST
16 December 2016
The signing of the key conditions for the establishment of a support centre for Japanese investors took place during a working meeting between Deputy Prime Minister Yury Trutnev and Tadashi Maeda, Executive Managing Director of the Japan Bank for International Cooperation (JBIC), announced the Ministry for the Development of the Russian Far East in a press release.
The Japanese business support centre will work to attract investors to advanced special economic zones and Vladivostok Free Port. Consequently, the second stage of implementing the investment platform announced at the second Eastern Economic Forum is now under way.
“During regular meetings, our countries’ leaders discuss the goal of strengthening cooperation and developing relations between Japan and Russia. The creation of a Russian–Japanese investment platform is a significant venture. It will make communication more efficient and help to boost Japanese investor activity in the Russian Far East”, said Yury Trutnev.
“We will put our efforts into the swift creation of the Russian–Japanese platform and we will bring it to the attention of Japanese entrepreneurs”, stressed Tadashi Maeda.
He noted that the bank is willing to continue working together to implement the proposed Ministry for the Development of the Russian Far East plan for Russian–Japanese cooperation in developing the Far East, including 18 major projects and initiatives in areas such as energy, infrastructure, agriculture, medicine, and urban development.
Yury Trutnev commented that more needs to be done to inform Japanese investors about the new economic policy in the Russian Far East. Thanks to new economic development tools – advanced special economic zones, Vladivostok Free Port, infrastructure support investment projects, and the Far East Development Fund – the macro-region attracted USD 3.5 billion in foreign investment. However, Japanese investment still accounts for a small proportion of this – just 1%.