Far East to compete with Singapore, Hong Kong and Korea - Deputy PM Trutnev

MOSCOW, July 28. /TASS/. The advance development territories (ADT) in the Russia’s Far East will compete with Hong Kong, Singapore, China, Japan, and the Republic of Korea, Deputy Prime Minister and Presidential Plenipotentiary in the Far Eastern Federal District Yuri Trutnev said on Tuesday. "We incorporated best practiced used in the neighboring countries into the ADT structure. We understand we will not compete domestically. We will compete with Hong Kong, Singapore, China, Japan, and the Republic of Korea," Trutnev said. The First East Russia Economic Forum will be held in September on the Russky Island, Trutnev reminded. "The whole work of the Far East Development is a going process. You know Vladimir Putin identified the development of the Far East as a national priority of the XXI century and therefore the government is fairly actively working for a year and a half already. The forum is a milestone in such activity with its specific purpose and goal. First off, it involves presenting the difference between the Far East now and before," Trutnev said. The forum architecture consists of three blocks, the deputy prime minister said. The Far East and its environmental advantages will be presented to foreign investors in the first block. The second block comprises support mechanisms established by the Russian government to stimulate the business development. "These are the mechanism of the Advance Development Territories, the free port of Vladivostok and the mechanism of investment projects’ infrastructural support," Trutnev said. The future of the region and its development strategy will be discussed in the third block. The First East Russia Economic Forum will be staged in the Far Eastern Federal University on the Russky Island from September 3 to 5, 2015. Representatives of the government authorities of Russia and the Asia-Pacific Rim nations, businessmen, industry experts and investors are expected to attend the forum. Major investment projects planned for implementation in the Far East will be presented within the forum framework. Read more