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Japan Is Ready To Invest Into Non-resource Sector Of the Far East
January 22, 2014 14:14


The priorities of the investment cooperation between Russia and Japan in the Far East are primarily non-resource export-oriented sectors of the economy with a high level of technology.

As the Pacific Information Agency “Ostrova” told to Minvostokrazvitiya of Russia, both sides confirmed their intentions at the meeting of the Minister for Development of the Far East Alexander Galushka with the Minister of Economy, Trade and Industry of Japan Motegi Toshimitsu held on December 26 in Moscow. “Russia is interested in direct investment of Japan to the development of non-resource sector of the economy, and we intend to do our best to make the implementation of the investment projects in the Far East fast, reliable and safe” - Alexander Galushka said.

Motegi Toshimitsu, the Minister of Japan reported that the Japanese companies operating in the regions of Far-East Federal District had several difficulties impending business expansion. In particular, he mentioned the bureaucratization and administrative obstacles. Alexander Galushka told the representatives of the Japanese delegation that the measures are to be taken to improve the investment climate in the Far East in the near future. These include the creation of special zones of advanced development in the macro-region for solving the issue of land and infrastructure, special tax incentives, as well as rapid administrative and customs procedures.

The Minister Motegi Toshimitsu confirmed that the Japanese businessmen consider all this measures urgent. “Our country is interested in the further development of cooperation in the export-targeted industry in the Far East for further sales of goods produced in these regions to the markets of the Asia-Pacific region” – the Minister of Japan said.

For reference, the share of the Far-East Federal District accounts for a third of the Russian-Japanese trade turnover. The turnover of the Far East with Japan amounted to $ 8.3 billion for 10 months of 2013 (increased by 19.2 % compared with the same period last year). The biggest joint projects implemented on the territory of the Far-East Federal District are the development oil and gas condensate fields in Sakhalin Oblast, automobile construction in Primorsky Territory, wood conversion in Khabarovsk and Primorsky Territories, rough diamonds processing and geologic exploration in the Republic of Sakha (Yakutia), the construction of the terminal agrologistic terminal in Amur Oblast.

Author: Anna Dorozhkina

Tags: investments non-resource sector Far East Russian-Japanese trade  

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