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Jena framed the platform

"One window" for Japanese investments in TOP and SPV earned in Vladivostok

Jena framed the platform
Photo: FRDF
At the end of April, JBIC, the Far East and Baikal Region Development Fund (FRDV) and the Agency for Far Eastern Investment and Export Support Agency (IPA) officially presented the Russian-Japanese investment platform in Vladivostok. About its establishment, two countries agreed in 2016 year, and the last binding documents partners signed in February this year at the investor forum in Sochi. The new institute of support of Japanese investments in Russia will be based in Vladivostok, in the business center of Felix City. The head of the investment platform was the Khabarovsk resident Aleksey Khachai. 

In Sochi, the general director of the FRDF Alexei Chekunkov said that over the next 7 years, the investment platform should attract more than 80 billion rubles. Japanese investments in projects in the Far East. Its task is formulated clearly: "to engage in attracting investment from Japanese companies in mid-range projects from $ 10 million to $ 100 million in the territories of priority development and the free port of Vladivostok." 

It should be noted that the Ministry for the Development of the Russian Far East, the IPA, and to some extent the FEDV itself are already looking for foreign investors for the TOP and FPV. It is noteworthy that in addition to the FRDV, its "senior partner", the Russian Direct Investment Fund (RDIF), is also engaged in Japanese investments in Russia. A few years ago, the Fund, together with JBIC, created its Russian-Japanese investment platform; similar platforms operate with many countries, including South Korea. 

Aleksey Khachai explains that the platform "will help intensify contacts, exchange information, improve the quality of this information, become a link between Japanese capital and Russian investment opportunities, a guide and catalyst for economic interaction between Russia and Japan." The new development institute is to become a "one window" for Japanese investors intending to implement projects in preferential regimes of ASEZ and FPV. There are already eight "pilot projects" that the investment platform is ready to tackle, said the deputy head of the FEDV Pyotr Shelakhaev.

In the 2016 year, recall, Japanese investors have demonstrated impressive intentions to participate in the economy of the Far East. "Subsidiary" company Tosei Co. Ltd "New Coal Terminal" (NUT) announced the project of a complex for coal transshipment in the Partizansky district of Primorye, worth 60,16 billion rubles. ($ 866 million). The enterprise acquired the status of a resident of the free port of Vladivostok (SPV). "Daughter" Hokkaido Corp. "Sayuri" announced the construction of year-round greenhouses in the Yakut TOR Industrial Park Kangalassy for the amount of 1,33 billion rubles and the Khabarovsk joint venture with the participation of JGC Corp. announced the construction of greenhouses at 500 million rubles in the industrial park Avangard with further expansion of the project up to 1,5 billion rubles of investments. 

In 2017, a few more projects were added to these loud "pilot" for the TOR and the free port of Vladivostok. So, the Japanese Sojitz Corp. announced the creation of a consortium of investors in the reconstruction of Khabarovsk airport, the estimated share of investments was not disclosed, but was estimated in billions of rubles. Iida Group Holdings, having created the "daughter" "Stevedoring Company" Slavic Forest Terminal ", promised to invest through the mechanism of the SPV at least 2,01 billion rubles. in the timber processing complex in the Khasansky district of Primorye. 

At the last St. Petersburg International Economic Forum in June 2017, the Minister for Development of the Far East, Alexander Galushka, calculated that "Japanese companies are implementing 21 projects in the Far East with a total investment of $ 16 billion." With a rate of about 60 rubles per dollar, this gives about 960 billion rubles. investment. However, by that time, only two of the above-mentioned large projects had acquired real features: Hokkaido Corp. and JGC Corp. through "subsidiary" joint ventures built the first stages of greenhouses in Yakutia and the Khabarovsk Territory and started construction of the second stages of the complexes. 

By May of 2018, the register of TOR and SPV residents was replenished with projects for the construction of the Honoka balneology company with the Japanese capital Honoko Sakhalin (TOR Mountain Air), the Terminators car recycling plant with the participation of Sumotori and Japanese Arai Shoji Co. Ltd (TOR Nadezhdinskaya), factories for the assembly of Prometheus electric cars and the production of Mazda engines (Nadezhdinskaya TOR), Premiere residential building and the medical complex JGC Hokuto Medservis (SPV). The latter is implemented by JGC and the Hokuto clinic (Hokkaido).

Despite the apparent abundance of Japanese projects, in December 2017, Deputy Prime Minister Yuri Trutnev, in charge of the Far East, at the Days of the Japanese Investor in Vladivostok stated: "The volume of Japanese investments in the total volume of foreign investment in the Far Eastern Federal District is about 2%." "This does not come close to the economic potential of our countries," he added. 
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