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Vladivostok free port to receive $918 mln worth of investment

December 04, 2015, 13:31 UTC+3 VLADIVOSTOK
The law on free port provides for establishing of a new special economic zone embracing 15 municipalities in the south of Primorsky Krai
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© Yuri Smityuk/TASS

VLADIVOSTOK, December 4. /TASS/. Vladivostok free port may receive more than 62 bln rubles ($918 mln) worth of investment, Primorye administration reported on Friday, adding that 10 applications have already been received from potential investors.

"We’ve already received around 10 applications from potential residents of Vladivostok free port, with investment proposals totaling 62 bln rubles," First Deputy Governor of Primorsky Krai Vasily Usoltsev was quoted as saying.

The law on free port came into force on October 12, 2015. It provides for establishing of a new special economic zone embracing 15 municipalities in the south of Primorsky Krai. Experts believe that the law will significantly accelerate special economic zone development and boost investments.

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