What sanctions? Japan steps up investment in Russian Far East

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Vladivostok, the capital of Primorye region


August 26, 2015 

Primorsky Krai Administration

(Posted August 17, 2015)



Primorye and Japan intend to establish joint production of foodstuff


  A meeting of Administration and business representatives from Primorye with the delegation of the Ministry for Agriculture, Forestry and Fisheries of Japan has been held in Primorye. The main theme of the meeting was development of cooperation in transport logistics, foreign trade, investing and tourism, and also cooperation in agriculture and fishery.






The Director of the Department for International Cooperation of the Primorsky Territory Alexey Starichkov noted that Japan is one of the biggest investment partners of the region.

“We are glad to see you in our sunny region and in the Free-Port of Vladivostok. Cooperation with Japan is very important to us. Japanese banks, companies, investment funds are the biggest foreign investors in the economy of the Primorsky Territory in 2013. The calculation of the investment cooperation results in previous year is still ongoing. These figures will be available shortly but it is absolutely clear that the leading position of Japanese companies in foreign investment to the Primorsky Territory economy will be preserved” – he said.

Vladivostok

Alexey Starichkov also noted the positive trend in foreign trade.

“Japan significantly improved the volume of foreign trade with the Primorsky Territory and now is only second to China. Those industries which we will discuss also show significant growth in the latest period. For example, last year a volume of agricultural output increased by a quarter in absolute value. Fishery also shows impressive results. In particular these are the volumes fish production, onshore processing and mariculture production” – Alexey Starichkov noted.

The head of the Japanese delegation, Advisor of the Department of the International Relations, of the Ministry of Agriculture, Forestry and Fishery of Japan, Sendai Mitsuhito noted that the main goal of the visit is learning about the Primorye potential in different industries and also looking for cooperation in foodstuff manufacturing.

In April 2015, the Prime-Minister of Japan Shinzo Abe had visited Moscow and had a meeting with the President Vladimir Putin. The result of this meeting is an Agreement on Cooperation in Foodstuff Manufacturing. Agriculture and fishery prospers in our region and we want to discuss cooperation perspectives in these spheres” – he said.

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The Deputy Director of the regional Department of Agriculture and Foodstuff Alexey Taran has noted that the agricultural sector traditionally attracts special attention among other industries of Primorye.

“About 230 thousand people in Primorye are in some way connected with agriculture. Among the most perspective and in demand agricultural sectors nowadays is pig breeding, greenhouse production and dairy farming. The most popular crop in agricultural organizations and small companies is soy” – he said.

According to Alexander Perednya, the Director of the Department of Fishery and Aquatic Resources, the results of the first half of 2015 show that the share of the fishing industry among the volume of regional production  is 26 per cent, the share of the Primorsky Territory in total catch capacity in the Far East is over 30 per cent. And creation of the Fishery cluster in Primorye will facilitate the creation of the environment for added value creation and fish processing development in the region.

“Today we have a finished concept, developed preliminary feasibility study and prepared an investment offer for this project. It is planned that the cluster will include creation of transport, storage, engineering and service infrastructure objects, workshops and production units, buildings for auction trade and other objects” – he said.

According to Alexey Starichkov, in recent times Primorye significantly improved investment climate for both domestic and foreign investment partners. In the short-run, foreign companies, including Japanese, will be able to use preferences of the “Free-Port Vladivostok” and  the territories of advanced economic growth. One of them is TAEG “Makhailovskaya” will be oriented only to the foodstuff production. It is planned to host companies specialized on processing and deep processing of agricultural products, foodstuff, grain elevators, compound feed industry – all objects connected with agricultural and food processing industry.

“The potential for our cooperation in different sectors is very high and we should use it. We will be glad to start joint projects in agriculture and other spheres” – Alexey Starichkov stressed.

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The creation of areas of advanced development in the far East is the best response to economic sanctions imposed against Russia, said the Minister for Far East Development, Alexander Galushka, reported RIA PrimaMedia with reference to the press service of the Kremlin on July 31.

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