Photo: VEB.RF press service
Huge amounts of money are currently flowing into the Far East: investments from the state, VEB and development organisations, banks and private companies. Roads and social facilities are being built, public transport, housing and public service networks are being updated. As a result, all efforts should lead to the fact that the standard of living in the macroregion will be higher than in the European part of Russia. Presidential advisor Maxim Oreshkin and VEB.RF President Igor Shuvalov discussed how this problem is being resolved live on the talk show “60 Minutes” within the framework of the Eastern Economic Forum.
“In recent years, the Far East has been actively developing. Yesterday the President welcomed the launch of several projects initiated precisely thanks to new investment decisions. And in general, there is more money in the Far East. The question is whether this money and these projects should contribute to people’s quality of life,” Shuvalov said.
In the macro-region, by order of the president, 25 city master plans are being created. These are complete documents that radically improve settlements and improve the quality of life of citizens. Both VEB.RF and private investors are seriously investing in the development of the territories. New transport infrastructure and public services, schools, hospitals, cultural centers are appearing here, and comfortable housing is being built.
“Now our VEB projects aim to ensure that there is a different quality of life here. All this work is carried out within the framework of master planning. That is why in the Far East everything should be better than in the European part of the country,” said the president of VEB.RF.
Assistant to the President of Russia Maxim Oreshkin clarified that the structure of investments in the Far East has changed a lot over the past 10 years. If before emphasis was placed on large industrial projects, now efforts are being made to invest in cities and improve living standards.
“Now the agenda is focused on investments, including in cities, urban development projects, improving the quality of life and making life here in the Far East more comfortable and interesting for ordinary residents,” Oreshkin explained.
He added that the State has “covered itself with concern” for investors. For them, there is a lot of preferential treatment, well-developed master plans into which their project can be integrated, as well as a whole range of VEB.RF tools.
“Here in the Far East a whole set of tools is used: preferential loans and various types of support. That’s why investors are really worried. There is even a dedicated deputy prime minister in the Russian government who supports these investment projects every day,” the presidential advisor said.
Another important area that can help the development of the region is support for export companies. To be successful, they must not only be able to withstand the competition, but also choose leading companies in each industry that have an impeccable reputation. They will “drag” everyone else with them, explained Veronika Nikishina, general director of the Russian Export Center (part of the VEB group).
“Public opinion leaders and ambassadors are also very important, who (will help) create industry recognition to popularize a product of this type,” added the REC general director.
Additional incentives are offered for business development and ambitious new projects in the Far East. The day before, investment projects worth 1.1 trillion rubles were concluded within the framework of the FEE. VEB.RF, together with Sberbank, the Ministry for the Development of the Russian Far East and the Far Eastern and Arctic Development Corporation (KRDV), will participate in the construction of facilities in various areas, from tourism to engineering and transportation infrastructure. When implementing projects, various preferential instruments will be used, including VEB.RF opportunities.
