Accelerating the development of the Russian Far East will bring new opportunities to Chinese investors
The turn to the East and program development of Eastern Siberia "- under this theme was held in the session in the St. Petersburg International Economic Forum. Panelists agreed on the fact that the acceleration of the development of the Russian Far East will open significant business opportunities to Chinese investors, so China's participation in the development of the region has great promise, says the agency Xinhua.
According to the president of China-Russia Investment Fund, Hu Bin during the panel session, the Russian government attaches great importance to the Far East and has developed a special program for the development of the region. In the future it is planned to increase their investments in infrastructure construction, improve the legal framework and investment climate. "All these measures will undoubtedly create favorable conditions to attract more Chinese investment in the Far East", - said Hu Bin.
At the recently concluded 24th Harbin International Trade and Economic Fair Russian delegations from the Far East have presented more than 80 investment projects to attract Chinese investment. An important objective in April 2013 visit to China, the First Deputy Prime Minister Igor Shuvalov also was to attract Chinese enterprises to implement investment projects in the Far East.
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"With the continuing economic sluggishness in the developed countries of Europe and America intensification of cooperation between China and Russia in the Far East is not only of great importance for both sides, but also have a far-reaching impact on the global economy", - said the researcher at the Institute of Russian, Eastern Europe and Central Asia of the Academy of Social Sciences of China, Li Jianmin.
According to her, China and Russia have great potential and great prospects for cooperation in the development of energy resources. Russian Far East is rich in oil and gas resources, so the main investment flows between China and Russia in this area can be focused exactly in the energy sector.
in March of this year officially began operating Sino-Russian Investment Fund /CRIF /created through the cooperation of China Investment Corporation, the Russian Direct Investment Fund and the Russian Vnesheconombank. main objective of the fund - assist Chinese enterprises in placing their capital in Russia.
CRIF's president, Hu Bin, currently CRIF is already funding a project in the field of forestry in the Far East and is also exploring the possibility of investing in areas such as agriculture , mining and manufacturing.
backward infrastructural facilities, adverse legal and investment conditions in some degree cooled Activity of Chinese investors, said Hu Bin. Fortunately, the Russian government has paid attention to this problem and is taking active steps to improve the investment climate, so it is expected that the difficult situation of foreign investment in the Russian Far East will change for the better, he added.
Primorsky Territory Governor Vladimir Miklushevsky participating in SPIEF 2013 in an interview with Trend. agency expressed confidence that with the by credit institutions and private equity Russia and China will be able to increase their cooperation in the investment sphere.
Vice Chairman of China Council for the Promotion of International Trade Yu Ping said that the Far East has a huge potential for development and greater complementarity with China in economic terms. According to him in the Far East a great demand for Chinese consumer goods. Chinese enterprises can create in the region of light industry factories, woodworking and furniture factories, as well as participate in the construction of tourist facilities.
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