Posted on December 19, 2022
The Primorsky Territory has experienced the fullscale ‘eastward pivot’ in 2022, according to Primorye Governor Oleg Kozhemyako
Primorsky Territory Governor Oleg Kozhemyako has outlined the priorities of the regional investment policy for 2023. In his investment message of 16 December 2022, the Governor emphasized that the Primorsky Territory had experienced the fullscale ‘eastward pivot’ in 2022 with its seaports being the point of attraction for cargo from APR countries. Investments in construction of new container terminals in Primorye will exceed RUB 170 billion, according to the press service of the Primorye Government.
“Investors are designing new container terminals in Vladivostok, Bolshoy Kamen, Posiet and Slavyanka with the scope of investment exceeding RUB 170 billion. Besides, agreements are singed on construction of six transport and logistics centers by 2028 to be technologically linked with the seaports. Their capacity will be up to 6 million containers per year,” said the Governor.
Commercial Port of Vladivostok is creating Vostochny Transport and Logistics Hub. The project foresees the construction of two deep-water berths of up to 17 meters deep and a container terminal of up to 1.2 million tonnes in capacity.
When summarizing the results of the region the Governor said that Primorye preserves its sustainability and continues to develop amid sanctions while adapting to the changing circumstances. The gross regional product will total about RUB 1.5 trillion.
According to considerable growth has been achieved by the Primorye economy in 2022: 36-pct growth of the transport industry turnover, 24-pct growth of commissioned housing, 67-pct growth of investments, 18-pct growth of foreign trade.
Oleg Kozhemyako said the region would continue pursuance of the approved export strategy, expand its geographic footprint, increase the number of exporters and establish representative offices in the strategic market of China and Vietnam.
Next year, Primorye industry will continue obtaining financial and tax support from the regional government. According to the Governor, additional capitalization of RUB 100 million from the Industry Development Fund is foreseen, subsidizing of pilot batches of products, three-year property tax exemption for the companies of the defence, mining and pharmaceutical industries. Reciprocally, investments from the companies benefitting from the support measures are expected to make RUB 6 billion.