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International priority development areas to have joint governance with foreign partners

The Trans-Baikal Region has currently become one of priority ones for such PDA

MOSCOW, August 7. /TASS/. Joint management in cooperation with foreign partners will be a specific feature of international priority development areas (PDA) to be created in the Far East, Deputy Minister for Far East and Arctic Development of Russia Pavel Volkov told TASS.

The Ministry developed a draft law on international PDAs on instructions from Russian President Vladimir Putin.

"A specific feature of such PDA is that there should be an international element present. Normally these are joint ventures. Another specific point is that such area can also be managed collaboratively with a management company from overseas," the official said.

The Trans-Baikal Region has currently become one of priority ones for such PDA. Furthermore, authorities of the Amur Region suggested earlier that a Sino-Russian investment fund should be created in addition to the international PDA mechanism. The ministry is ready "to consider sites to be as close to conditions of the investor as possible," Volkov noted.

The ministry is preparing a package of preferences for potential residents, the official added.

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