VLADIVOSTOK, September 3. /TASS/. Russian President Vladimir Putin announced the transition to the next stage of the Far East's development – an updated development strategy for the next 10 years.

"We are moving to the next stage – implementing an updated development strategy for the Far East, the Far Eastern Federal District, designed for the next 10 years, through 2036. The key task is to maintain the strong pace of development achieved so far and launch new investment cycles in the region," Putin said at the plenary session of the Eastern Economic Forum (EEF).

At the same time, the head of state stressed the need to radically increase investment in three key areas. "The first is industrial, infrastructure, tourism, creative and other projects geared toward domestic demand, increasing the capacity of Russia's national market, as well as meeting growing demand across the Asian region as a whole," Putin noted.

The second area, the president continued, involves attracting investment in innovative companies, developing infrastructure for the digital platform economy, and broadly deploying technologies, including artificial intelligence, biotechnology, new energy technologies and other promising fields, based on the country's most advanced regulatory framework.

"And the third – this is a fundamental priority – is new investment in education and healthcare, infrastructure, culture and sports, and the development of cities, towns and rural areas based on well-designed master plans, creating a comfortable, modern and well-developed environment for living, working and recreation," Putin said. He stressed that these were "not empty words." Developing these industries and innovative projects "requires people, and modern, well-educated people will not live in conditions that do not meet their expectations for a high standard of living." "Implementing all these plans requires bold, innovative solutions," the president concluded.

The Eastern Economic Forum is being held on September 1-4 in Vladivostok on the campus of Far Eastern Federal University. The forum is organized by the Roscongress Foundation with the support of the Russian government. TASS is the general information partner.