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Eastern Economic Forum

Russia’s Far East economy attracted $47.94 bln over 10 years

According to First Deputy Minister for Development of the Far East and Arctic Gadzhimagomed Guseinov, investment projects require boosting energy capacity to export products from the Far East

VLADIVOSTOK, September 4. /TASS/. Investments into Russia’s Far Eastern economy over 10 years amounted to 4.2 trillion rubles ($47.94 bln), First Deputy Minister for Development of the Far East and Arctic Gadzhimagomed Guseinov said at the Eastern Economic Forum.

"Binding investment agreements for 9 trillion have been signed with residents of the territories of advanced development, the free port of Vladivostok over 10 years. This is a little over 3,000 investment projects. Today we can already say that 4.2 trillion rubles have been attracted to the Far East economy during this time," he said.

According to Guseinov, investment projects require boosting energy capacity to export these products. "In the last three years we have not been able to export 65 mln tons from the Far East. We have not been able to do that, and this is a very important issue - the infrastructure we are building must first be used to export our cargo," he stressed.

The Eastern Economic Forum (EEF) is underway on the campus of the Far Eastern Federal University in Vladivostok on September 3-6, 2024. The main theme of the EEF in 2024 is "Far East 2030. Combining strengths to create new potential."

The EEF is one of the largest international conferences in Russia. It has been held in the Primorsky Region’s Russky Island in Vladivostok since 2015. The Forum is the initiative of Russian President Vladimir Putin, who decreed that the event be held annually.

The forum's objectives and goals include promoting the accelerated growth of Russia’s Far East region; assessing its potential for exports; expanding international cooperation in the Asia-Pacific Region; showcasing the investment appeal of the region, its steadily progressing territories, and the Vladivostok free port.

The Roscongress Foundation has served as the Forum’s organizer since 2016. TASS is the general information partner of the EEF.

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Trade & Cooperation Eastern Economic Forum

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