About Primorsky Krai
Thanks to the federal center’s system policy to support the Far East, Primorye becomes as the territory, which is obvious to be invested in. Attractiveness of the territory is confirmed with a significant increase in the volume of foreign investments, increasing of private capital share, and the expansion the number of partner countries of the territory. The largest investor countries in Primorye are such countries, as Germany, Japan, South Korea and China.
As of the beginning of 2014, the large-scale infrastructure projects had been implemented in Primorsky Territory. The projects have brought a significant competitive advantage to the territory, such as oil and gas pipelines, "Kozmino" Special Marine Oil Port, construction of roads.
COMPETITIVE ADVANTAGES of Primorsky territory
Some of the competitive advantages of the Primorsky Territory include geographical proximity to the economic centers of the Asia-Pacific region, as well as the growing interest of Russian companies to the activities in Asia Pacific Region. Within a radius of 1000 km from Vladivostok, Administrative center of Primorsky Territory, there is a home to more than 410 million people, with more than 300 million people in urban areas. Vladivostok is the only city on the map of the country with such a serious resource environment. Goods and services for the amount of more than 6.5 trillion dollars are produced annually within the thousand kilometers radius, which is more than 9% of the annual world production.
Primorsky Krai has a modern infrastructure, which key objects of energy and transport sectors, as well as of municipal economy, were built in preparation for the 2012 APEC Summit. Brand new roads were constructed; an international transport corridor is being formed. Far East multi-modal transport and logistics hub is now under creation on the basis of the airport of Vladivostok. "Sakhalin-Khabarovsk-Vladivostok" gas pipeline and "Eastern Siberia - Pacific Ocean" oil pipeline have been commissioned. An implementation of plans for gasification of the territory as well as a creation of new production capacities for deep processing of oil and gas begins in Primorye currently.
Far Eastern Federal University is located on Russky Island; this University is one of nine Federal Universities in Russia. Unique and innovative scientific and educational complex is designed to provide the region with highly qualified staff, to develop an innovative economy of Primorye and the Russian Federation, as well as cooperation with the countries of the Asia-Pacific. After 10 years, more than 50 thousand students will be trained in this University not only from the Far East, but also from across the country, as well as from neighboring countries.
Modern Development Institutions actively work In Primorye, such as “Investment Agency of Primorsky Territory”; also an office of the Federal Agency for Strategic Initiatives to promote new projects was opened. In addition, the national and regional entrepreneurial initiatives are being implemented, investment standards are under realization and the best regional investment practices are being adopted. Representatives of the Russian Private Investment Fund and Eastern Russia Development Fund already work in Vladivostok.
The changes in the Russian Tax Laws are adopted, due to which the Far East regions can provide the tax breaks for income tax for the first 5 years to companies, which develop industrial projects. Moreover, the tax rate can be reduced by another 5 years. Primorye to initiate a process to reduce the property tax rates for new industrial projects on the same terms.
"Primorsky Krai Development Corporation" JSC is working on the establishment of modern industrial sites, provided with the necessary transport, engineering, energy and other infrastructures in Nadezhdinsky, Mikhailovsky and Spassky Districts.