5 Sep 2022, 13:15

China's investments in Russia’s Far East make up 90% of foreign investments — Deputy PM

Yury Trutnev stressed that the Far Eastern Federal District still maintains economic ties with any of the countries of the Asia-Pacific Region

VLADIVOSTOK, September 5. /TASS/. China's investment in the development of Russia’s Far Eastern Federal District accounts for 90% of all incoming foreign investment, Yury Trutnev, Deputy Prime Minister and Plenipotentiary of the President of the Russian Federation in the Far Eastern Federal District, said on Monday.

"More than 90% of foreign investments coming into the territory of the Far East are investments from China," he said in an interview with the Rossiya-24 TV channel as part of the Eastern Economic Forum.

The Deputy Prime Minister stressed that the Far Eastern Federal District still maintains economic ties with any of the countries of the Asia-Pacific Region. According to him, the number of projects continues to grow "both with Korea, and with Japan, in Vietnam, cooperation in India is developing."

In late April, the construction of the first railway bridge across the Amur River between Russia and China was completed. The project was implemented as part of an intergovernmental agreement between the two countries at the expense of the Far East Development Fund (now VEB.DV) and the Russian-Chinese Investment Fund. The investments totaled 12 billion rubles ($197 mln). Earlier, Russian President Vladimir Putin and Chinese President Xi Jinping designated it as one of the elements of a new system of partnership and strategic interaction between the two countries.

Organized by the Roscongress Foundation, the Seventh Eastern Economic Forum will be running from September 5 to September 8 in Vladivostok. TASS is the event’s general information partner and its official photohost agency.

This year, the theme of the forum is: "On the Path to a Multipolar World.".

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