Russia hopeful South Korea businesses will come to its Far East - minister

SEOUL, November 30 /TASS/. Russia hopes the Republic of Korea and its businessmen will use an opportunity to develop its far eastern regions, Alexander Galushka, Russian minister for development of the Russian Far East, told TASS on Saturday. “We hope that South Korean businesses will use the opportunities, which we are creating for developing Russia’s Far East,” Galushka, who is visiting South Korea to discuss further development of economic cooperation between Moscow, Seoul and Pyongyang,” said commenting a project for development of fast growth territories in the Far East, including the Primorye territory. At the moment, the Ministry has signed several memorandums of mutual understanding, including six with Japan’s leading trade houses. “Japanese partners are interested in investing in fast growth territories,” Galushka said adding that fast growth territories had sprung up with an aim to attract direct investments to far eastern regions. “It is an open stance, which is absolutely equal for any investors and entrepreneurs from any countries. Economy is our priority. We are interested in quality investments, which produce the best technologies, the highest VAT and most productive jobs,” the Russian minister stressed. “We see huge perspectives that are opening in the Asia-Pacific region. We are accepting and reacting to the challenge of global economic competition and are implementing our plans. This is what the status is for today,” Galushka said in conclusion. The Russian government has adopted the criteria for these projects. Read more