Chinese Businessmen to Invest $3 Billion in Russia’s Far East

PHOTO by Vitaly Ankov / RIA Novosti

Investors from China have proposed projects for the priority development of territories in the Far East and the Free Port of Vladivostok, valued at around $3 billion, according to the Ministry for the Development of the Russian Far East.

“To date, Chinese investors have already proposed more than 20 investment projects to be implemented in the territories of priority development and the Free Port of Vladivostok with an investment amount of about $3 billion. We continue to work together on the implementation of the project for the development of the international transport corridors Primorye-1 and Primorye-2,” the Ministry said.

It also became known that the Russian side has proposed to create a joint Chinese business support centre in the Far East.

Earlier it was reported that Russia and China were to increase the proportion of settlements in national currencies.