Courtesy of the Roscongress

The Eastern Economic Forum’s visiting session “Prospects for Interregional Cooperation between the Russian Far East and the Provinces of Guangdong and Heilongjiang” in Guangzhou, South China’s Guangdong Province, recently acquainted participants with the economic and investment potential of the Far East and key projects and opportunities for international cooperation. The event was organized by the Ministry for the Development of the Russian Far East and Arctic, the Far East and Arctic Development Corporation, and the Roscongress Foundation with the support of the governments of the provinces of Guangdong and Northeast China’s Heilongjiang Province.

“The People’s Republic of China is a strategic partner of Russia and a vital economic partner in the Far East. Trade continues to grow steadily between the regions of the Far East and China’s northeastern provinces. 51 investment projects worth a total of RUB 817 billion are currently being implemented with Chinese capital in the Territories of Advanced Development (TAD) and the Free Port of Vladivostok (FPV). Chinese companies supply technology, are responsible for wide-ranging contracts, and participate in the commissioning of a number of major investment projects in the Far East. Ties between the Russian Federation and the People’s Republic of China have a stabilizing effect on the situation in the world as a whole, and we must continue to nurture them,” Russian Deputy Prime Minister and Presidential Plenipotentiary Envoy to the Far Eastern Federal District Yury Trutnev said.

Presentations and working sessions were attended by around 100 Chinese business representatives from high-tech manufacturing, logistics, petrochemicals, LNG, shipbuilding, agriculture, and tourism among others. The Russian delegation included representatives of development institutions, authorities, and the business community in the Far Eastern Federal District.

“Chinese capital is playing a part in the implementation of important joint projects. One example is the construction of the Amur Gas Chemical Complex for which investment has exceeded USD 8 billion. Two new bridges, Heihe–Blagoveshchensk and Tongjiang–Nizhneleninskoye, connected Amur Region and the Jewish Autonomous Region to Heilongjiang Province in 2022, with 3.8 million tons of cargo travelling across them in 2023. We believe many more such projects are needed. All the conditions necessary to make this happen are in place,” Ministry for the Development of the Russian Far East and Arctic Department of State Support and Technological Development Director Vitaly Eksuzyan said during the session.

Participants learned more about the Far East TAD and preferential regimes, as well as Russia’s plans to create an International TAD.

“The Russian Government has created unique conditions for investment projects in the Russian Far East and the Arctic ranging from ready-made infrastructure, land, special measures of control and oversight, no quotas on the use of foreign labor and a guarantee the conditions in place for investment projects will not be changed to single window support for Far East and Arctic Development Corporation projects. We have four unique regimes for investors in the Far East that allow us to reduce basic taxes to almost zero for the first 10 years, provide special customs, tax and administrative regimes, special preferential financing programs, and a free customs zone regime among others,” Deputy Director General for Investment of the Far East and Arctic Development Corporation Kirill Kamenev said during his presentation.

Session participants also learned about the opportunities that await on the Northern Sea Route and a wide range of joint projects currently being implemented with China.

The Eastern Economic Forum 2024 will be held on September 3–6 in Vladivostok on the campus of the Far Eastern Federal University. It is organized by the Roscongress Foundation.

The Roscongress Foundation is a socially oriented non-financial development institution and a major organizer of nationwide and international conventions; exhibitions; and business, public, youth, sporting, and cultural events.

The Foundation was established in 2007 with the aim of facilitating the development of Russia’s economic potential, promoting its national interests, and strengthening the country’s image. One of the roles of the Foundation is to comprehensively evaluate, analyze, and cover issues on the Russian and global economic agendas. It also offers administrative services, provides promotional support for business projects and attracting investment, helps foster social entrepreneurship and charitable initiatives.

The Foundation benefits from analytical and professional expertise provided by 5,000 people working in Russia and abroad. 

The Foundation works alongside various UN departments and other international organizations, and is building multi-format cooperation with 212 economic partners, including industrialists’ and entrepreneurs’ unions, financial, trade, and business associations from 86 countries and regions worldwide, and 293 Russian public organizations, federal and regional executive and legislative bodies of the Russian Federation.

Global Times