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Investments in Far East, Arctic projects make $103 billion

As many as $44 billion have been invested, almost 150,000 jobs have been created, and 923 projects have been implemented

MOSCOW, February 27. /TASS/. About 3,600 investment projects are underway in the Far East and Arctic after incentives were introduced there, and the investments make 9.5 trillion rubles ($103 billion), First Deputy Minister for Development of the Far East and Arctic Gadzhimagomed Guseinov told a news conference at TASS press center, which was devoted to the 9th international conference Far East and Arctic: Sustainable Development.

"Since 2014-2015 there have been several preferential regimes - advance-development territory, Free Port of Vladivostok, and many others. <…> Since 2015, <…> [we have] about 3,600 residents with investments of 9.5 trillion rubles, and 310,000 jobs. <…> This concerns both the Far East and the Arctic Zone," he said.

As many as 4.1 trillion rubles ($44 billion) have been invested, almost 150,000 jobs have been created, and 923 projects have been implemented.

"We rely not only on the natural population growth in the Far East, but also on the labor migration. <…> By offering unprecedented preferential regimes <…> we announce zero taxes for investors, thus motivating and stimulating the investors," he added.

The 9th international conference Far East and Arctic: Sustainable Development will take place at the Chamber of Commerce and Industry of the Russian Federation in Moscow on March 5-6, 2024.

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