China may invest USD3 bln in Russian Far East

Russian Economic Development Ministry: Far East may see USD3 bln in Chinese investments
China may invest USD3 bln in Russian Far East
21 November 12:13 2016 Print This Article

Chinese investors are considering 20 projects in priority development areas of the Russian Far East and the free port of Vladivostok totaling USD3bln, reports Russian Economic Development Ministry.

Russian President Vladimir Putin and Chinese President Xi Jinping has discussed the cooperation between the two countries at the sidelines of the Asia-Pacific Economic Cooperation summit in Peru, reports Rns newsagency.

“It should be noted that to date Chinese investors have already announced over 20 projects totaling USD3bln,” the Ministry said.

The sides will also continue working together to develop the Primorye-1 and Primorye-2 international transport corridors, according to the Ministry.

Back in October 2016, nine Chinese companies showed interest in 13 investment projects in the Russian Far East worth more than RUB750 bln (USD11 bln) in extraction and processing of natural resources, the development of ports and logistics, as well as in agriculture.

Russia also proposed a center to support Chinese companies in the Far East.

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