Business / Economy

Russian Far East official expects more Chinese investment

(Xinhua) Updated: 2016-03-24 14:56

VLADIVOSTOK - The Primorsky region in the Russian Far East will see more Chinese investment, said Vladimir Miklushevsky, the region's governor.

More than half of the foreign trade turnover of Primorsky is connected with Northeast China, Miklushevsky told Xinhua.

"We are now working with 200 Chinese companies investing in agriculture, manufacturing as well as trade. And we're very excited to increase this investment flow."

He noted that projects in the priority areas of farm products, logistics, industrial and food production have already started in the region.

The governor said investors can enjoy a number of tax benefits in those sectors and in the meantime, foreign investment will bring benefits to local residents.

Miklushevsky also said cultural, scientific and educational ties is the basis for economic trade relations between the two nations.

Despite global financial woes and Russia's economic difficulties, new opportunities are emerging for the region's ties with China, he said.

"A huge influx of Chinese tourists visited Primorsky. In 2015, the number of Chinese tourists doubled compared with the previous years, and our tourist income increased 30 percent," said Miklushevsky.

The governor said authorities are preparing for this year's East Russia Economic Forum scheduled for Sept. 6-7.

"The first forum had a great success, and the Chinese delegation was the largest and the most active one. They showed great interest toward Russia," he added.

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