Alexey Chekunkov, the Russian Minister for the Development of the Russian Far East and the Arctic, gave an interview to RT in which he appraised the development of the Russian Far East over the past period and what can be expected to come out of the Sept. 3-6 Eastern Economic Forum in Vladivostok. His central message is that “the East is a key growth hub of the national economy,” and for Asia generally.
Asked to describe the recent era of development in the Far East, Chekunkov said: “Three thousand, eight hundred new investment projects are currently underway across the Far East and the Arctic. State support mechanisms have helped bring nearly 12 trillion rubles ($148 billion) into the economies of these two macro-regions, almost half having already been invested.... While the Arctic has been part of accelerated development for the last five years, the Far East’s economic progress spans two consecutive five-year periods. The Far Eastern Federal District has outpaced many national average indicators. Investment in fixed assets has nearly doubled over ten years—a growth rate 2.6 times higher than the national average. In mining and construction, the macro-region’s growth rate is 3.3 times higher than the overall Russian average. These achievements stem from the accelerated development initiatives consistently implemented in the Far East through presidential decrees, including creation of priority development territories, the Free Port of Vladivostok, the Kuril Islands, a Special Administrative Region (SAR), and other measures.”
