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In addition to that, the far eastern federal district may reach almost $2 trillion rubles –the Minister said.
The establishment of the Free Port of Vladivostok will allow to more than triple the region’s GRP (Gross Regional Product) up to 2.1 trillion rubles by 2034.
Alexander Galushko The Minister of the Development of the Russian Far East told that during an interview with “Novosti ATR journal” (that is the “Asia-Pacific region News” in Russian). The special issue of the journal has been published in the run-up to the Eastern Economic Forum in Vladivostok.
He pointed out that “According to the preliminary assessments of experts, a sharp rise in the region’s GRP is expected to more than double by 2025 (up to 1.4 trillion rubles) and to more than triple by 2034 (up to 2.1 trillion rubles) as a result of the establishment of the Free Port of Vladivostok”.
At the same time, he highlighted that the region’s GRP may reach 1.97 trillion rubles by 2025. Galushko stressed that the number of workplaces created thanks to the Free Port will reach more than one hundred thousand by 2025 and almost five hundred thousand by 2034.
Russian President Vladimir Putin signed a law on the establishment of the Free Port of Vladivostok. The law will come into force on September 12. The Free Port will include all the sea ports in the Primorsky Region’s south, Knevichi airport and parts of railways.
The Minister reminded that 9 priority development areas (PDAs) are implemented and another 8 are planned to be created in 2016-2017 including Russky Island, Bolshoi Ussuriyskiy island and Kuril islands, PDA “Sakhalin” and PDA “Svobodny” where the new gas and chemical production will be located.
Private investment volume for the new PDAs will reach 1 trillion rubles – Galushko said.
Moreover, the Minister told about plans to develop roads in Russia’s Far East. An overall volume of roads that are to be built and constructed in the far eastern federal district should reach 5 thousand kilometers by 2022.