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Second Eastern Economic Forum to gather 2,400 participants

The participants are expected to discuss the opportunities for investors, mechanisms and tools to support businesses, infrastructure and energy projects in Russia's Far East

VLADIVOSTOK, July 14. /TASS/. The organizers have published the business program of the second Eastern Economic Forum (EEF), which will take place in Vladivostok on September 2-3. At least 2,400 EEF participants are expected to discuss the opportunities for investors, mechanisms and tools to support businesses, infrastructure and energy projects, the forum’s organizing committee reported on Thursday.

"It is expected that the second Eastern Economic Forum will have at least 2,400 visitors, including representative delegations from China, Japan, South Korea, India, Vietnam, Australia, the USA, and Singapore. Participation by some representatives of the World Economic Forum and other institutions is also planned," the report says.

Opportunities for investors

Within the first theme "Opportunities for Investors" businesspeople will be told in detail about the prospects of doing business in the Far East.

"The first thematic block of the Forum’s business program, ‘Opportunities for Investors’, will be about presenting the investment potential and terms of doing business in Russia’s Far East," the report says. The Forum will also discuss the development of the regional transit and logistics infrastructure, in particular: creation of the Primorye-1 and Primorye-2 international transport corridors, the prospects for using the Northern Sea Route and the biggest seaports in the Far East. Plans will also be considered for creating new facilities within the highway, railway and airport infrastructure. Some venues will address such important issues as production of mineral resources, fisheries, energy, housing construction and tourism, according to the organizers.

"The Forum’s participants will discuss the preliminary results of and prospects for implementing new mechanisms in Russia’s Far East economic development within the ‘Incentives for Investors’ block. The advantages of new economic zones will be presented. Residents of special economic zones and Free Port of Vladivostok will have an opportunity to propose practical new ideas for improving the business environment. A special venue will be used for disclosing for potential investors all government support mechanisms in the region, as well as the potential for human capital development in Russia’s Far East," according to the report.

"The third topic to be discussed is ‘Developing the Russian Far East - Advantages and New Opportunities for the Asia-Pacific Region’, highlighting the competitiveness of Russia’s Far East, attraction of foreign investments to Russia and international cooperation in the sphere of energy and transport. One key project for discussion will be creating an energy ring between Russia, China, Japan, Korea, and Mongolia," according to the Forum organizers.

Dialogue between businesses and government

The Forum, in the view of the organizers, should become a venue for an open dialogue between the businesses and government. "The participants will discuss with lawmakers and executive authorities the future development of the region, particularly access for investors to oil and gas fields and mineral deposits, development of shipbuilding, the new economic model of the Northern Sea Route, and other matters," says the Forum’s organizing committee.

A Forum of the Governors of the Russian Far East and North-East China, an Eastern Vector Public Council session, the ASEAN - Russia University Summit, the APEC Educational Conference and a session of the Russian-Chinese Financial Council are all planned for the sidelines of the Eastern Economic Forum, according to the organizers.

The first Eastern Economic Forum was held in Vladivostok in September 2015. More than 80 large investment contracts worth more than 1.3 trillion rubles ($20.32 billion) were concluded at it. The total sum of investment on the results of 22 agreements signed by the Primorsky Territory of Russia reached 100 billion rubles ($1.56 billion). Primorsky Territory governor Vladimir Miklushevsky said that he expected the second Forum to yield contracts to the value comparable with the first EEF.

The main objectives of the Forum are: to improve relations between the international investment community, Russian businesses, and the federal and local governments; a comprehensive expert assessment of the economic potential of East Russia, as well as the improvement of the competitiveness and investment attractiveness of the region, both at the Russian and international level; the presentation of new conditions for investment and doing business by means of exclusive procedures created for East Russia - the Territory of Priority Development and the Free Port of Vladivostok.