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South Korean investors ready to work in the Far East

At the meeting in Moscow, representatives of the Minsk region discussed with the representatives of the Korea Trade-Investment Promotion Agency (KOTRA) the prospects for participation of Korean investors in projects in the Far East.

Alexander Osipov, First Deputy Minister for Development of the Far East, and Maxim Shereykin, Deputy Minister, told about the basic principles for the formation of a new economic development model for the Far Eastern regions and the priorities for creating a network of advanced development territories (TOP) with competitive conditions for running a business and implementing large projects.

According to Osipov, one of the main tasks is to create high-tech production facilities in the Far East, but with long distances and lack of infrastructure, “efforts should be concentrated on specific projects that will become points of outstripping growth”.

He continued that the Russian side is interested in attracting Korean companies to the Far East, primarily in the sphere of deep processing of wood, iron ore raw materials, growing bioresources.

The Korean side stressed that among the largest Korean investors there is a great interest in cooperation with the Far Eastern and Siberian regions. In the near future, the Korean side will prepare and submit to the Ministry counter proposals for joint cooperation.

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