Ukraine forbids Russian Eurovision contestant to perform via satelliteWorld March 23, 19:35
Jehovah’s Witnesses in Russia suspended over extremismSociety & Culture March 23, 19:00
Kiev confirms Russian politician’s killer dies in hospitalWorld March 23, 18:31
Russia to develop Tor air defense missile system’s Arctic versionMilitary & Defense March 23, 18:30
Siberian scientists searching for eyewitnesses of bright green meteor fallScience & Space March 23, 18:22
Dozens of Russian cities to join in clicking off lights for Earth HourWorld March 23, 18:16
European Broadcasting Union invites Samoilova to sing live from RussiaWorld March 23, 18:14
Russian experts invent cutting-edge 360-degree spherical photo-video cameraScience & Space March 23, 18:09
National Bank of Ukraine wants to ensure safety of Russian banks’ subsidiariesBusiness & Economy March 23, 17:42
A special economic zone in the port city of Vladivostok has been designated as the site of an initial $131 million, three-year engine production investment program aiming to attract direct foreign investments by leading world players across the industry.
The pioneering project was unveiled by the head of Russia's Presidential Administration, Sergei Ivanov, flagging it as a bold, groundbreaking initiative for the nation.
“This will allow us first to embrace state-of-the-art technology and second, these engines will be used not just for Russian cars but also for export,” Ivanov said.The focus on developing Asia-Pacific activity had been fuelled by Western sanctions on Russia over events in Ukraine, and because the regional economy was growing fast. "We hope for investment, not only our own," he added.
Sights on the future also eyed demand among locals for second-hand cars brought in mainly from Japan, Ivanov said, while dismissing rumours of an import ban.
But plans lay ahead to develop local manufacture of quality, affordable cars which would see future demand wane, he said. "The more of these we produce, fewer used right-hand-drive Japanese cars will be bought by Russians in the long run," Ivanov added.