Heads of Development Institutions Meet to Discuss Primorie Investment Projects
The heads of VEB.RF, Russian Export Center, Russian Small and Medium Business Corporation, the Far East Development Fund and DOM.RF visited Vladivostok to discuss the implementation of investment and infrastructure projects in the Primorie Territory.
The meeting participants paid attention to the region’s export potential and noted the necessity of promoting small and medium-sized businesses in the Primorie Territory to unlock its potential to the fullest extent. The meeting was also attended by representatives of the Primorie Territory administration and the local business community.
The meeting was started by VEB.RF Chairman Igor Shuvalov speaking about the coordinated work of development institutions on comprehensive solutions for regional pressing problems. “We, the four organisations, satisfy the needs of businesses from micro enterprises all the way through to major companies and ensure the interaction with regional banks, our major nationwide banks. We would like to understand: what is your sentiment, how do you think we can cooperate. We will reply with our definite proposals,” Igor Shuvalov said.
The VEB.RF Chairman underlined that, with a long-time presence in the region, DOM.RF was involved in several housing projects, which were to be discussed by the company’s CEO Alexander Plutnik during his visit to Vladivostok. According to Shuvalov, RSMB Corporation has also ambitious goals in the Primorie Territory, and its activities will include developing the local urban environment. Igor Shuvalov additionally noted Vladivostok’s key role in developing regional export and emphasised Russian Export Center’s great efforts on this agenda.
The importance of export development was also emphasised by Primorie Territory Vice-Governor Konstantin Bogdanenko. “It is reasonable to hold a forum for exporters in Vladivostok and make it an annual event oriented to Northeast Asian markets,” Bogdanenko said.
VEB.RF and Primorie Territory Authorities Agree to Cooperate to Improve Infrastructure Quality
Vladivostok hosted a meeting between Primorie Territory Governor Oleg Kozhemyako and VEB.RF Chairman Igor Shuvalov. They discussed potential investment projects for the region and entered into a cooperation agreement. Specifically, VEB.RF expressed its willingness to carry out projects to improve urban environment quality with the extensive involvement of development institutions: VEB-Leasing, the Far East and Baikal Region Development Fund, DOM.RF, Russian Export Center, Russian Small and Medium Business Corporation etc.
VEB-Leasing is willing to support the project to renew urban passenger transport, which will raise speed, safety and passenger traffic, including creating a convenient environment for physically handicapped people.
Financing for the construction of heat supply and water treatment facilities in the Primorie Territory is a priority for VEB-Leasing. The socio-economic effect of such projects is evident: a reduced number of accidents, an improved environmental situation, the locals provided with adequate utility services. This will all directly affect the improvement of quality of life.
“Primorie is known to you in connection with the Russky Island and Vladivostok projects. I hope that the plans related to large-scale urban development and investment projects will be completed as scheduled with your help. It is important for us to have such a reliable partner in the region, a partner that understands the situation and knows the particularities of mechanisms to provide support for small and medium-sized businesses and invest in the road sector. This is extremely important for our region,” Oleg Kozhemyako said.
According to Igor Shuvalov, the Primorie Territory has huge potential; work is under way on planning several regional projects involving major Russian companies. The VEB.RF Chairman emphasised that Russian President Vladimir Putin paid particular attention to Primorie investment projects.
“The Primorie Territory is home to us. Today, I am not alone in Vladivostok: I am a representative of VEB.RF and other development institutions, which are in close cooperation with DOM.RF, Russian Small and Medium Business Corporation and Russian Export Center. We have a big agenda; we visited today Bolshoy Kamen, discussed additional orders for merchant vessels, and will definitely look at the infrastructure built in Vladivostok for an APEC summit. Some facilities need additional investment; specifically, waste treatment facilities. We will consider building a highway. Residential construction is a priority; we know that there are problems, and DOM.RF CEO Alexander Plutnik will give special attention to this agenda,” Igor Shuvalov said.
“It is very important for us to have such a credible partner with experience and expertise. I am confident that our joint projects will benefit Primorie and Vladivostok, not only as the regional centre but also, I hope, the future capital of the Far East,” said Oleg Kozhemyako.
VEB.RF has invested 12 billion roubles in the development of the Primorie Territory. Additionally, the Far East Development Fund has been involved in investment totalling 41.7 billion roubles in regional investment projects, including 8.5 billion roubles of the Fund’s approved investments. As of November 2018, actual investment was 6.3 billion roubles.
VEB is considering Primorie projects in the chemical, petrochemical, shipbuilding, manufacturing, port logistics, transport and related industries. Particular attention is given to urban development projects.
During a visit to Vladivostok on 29 and 30 November, VEB.RF Chairman Igor Shuvalov, together with the heads of Russian Small and Medium Business Corporation, DOM.RF, Russian Export Center and the Far East Development Fund, will discuss the region’s priority projects, see Vladivostok’s urban infrastructure facilities and meet the local business community.