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PM sees potential for better economic development of Russia’s Baikal region

November 23, 2016, 17:16 UTC+3 MOSCOW
The premier says before March 1, 2017, the government should implement a set of additional measures aimed at improvement of demographic situation in the Far East region
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MOSCOW, November 23. /TASS/. Russia’s Baikal region in the Far East of the country has potential for better economic development, Prime Minister Dmitry Medvedev said at a meeting of the legal commission on social and economic development of that region.

"Our main task is to raise economic indicators and quality of life to the average level in Russia. This is the region where two transcontinental railways linking West and East pass (the Trans-Siberian and Baikal-Amur Mainline /BAM/), it also has direct railway entry to China and Mongolia as well as three international airports - in Ulan-Ude, Chita and Irkutsk. Such a advantageous transport and geographical location should be used in full," Medvedev said.

The Prime Minister also drew attention to rich resources of the region. He reminded that earlier the list of investment projects in the Baikal region had been approved. In particular it includes two large projects for extraction of tungsten and uranium.

"I hope for a well-coordinated work of federal agencies and regional authorities to ensure successful implementation of these projects, as well as to work out new initiatives," the head of government said.

Medvedev admitted that every new project faces the problem of funding.

"Attracting investments in conditions of shortage of resources is not easy, but it should not be an obstacle to development," he said.

Touching upon advanced development of the Far East, Medvedev said that in 2017 state and federal target programs will include special sections on advanced development of that region.

He added that before March 1, 2017, the government should implement a set of additional measures aimed at improvement of demographic situation in the Far East region.

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