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Vladivostok free port to receive $918 mln worth of investment

The law on free port provides for establishing of a new special economic zone embracing 15 municipalities in the south of Primorsky Krai

VLADIVOSTOK, December 4. /TASS/. Vladivostok free port may receive more than 62 bln rubles ($918 mln) worth of investment, Primorye administration reported on Friday, adding that 10 applications have already been received from potential investors.

«We’ve already received around 10 applications from potential residents of Vladivostok free port, with investment proposals totaling 62 bln rubles,» First Deputy Governor of Primorsky Krai Vasily Usoltsev was quoted as saying.

The law on free port came into force on October 12, 2015. It provides for establishing of a new special economic zone embracing 15 municipalities in the south of Primorsky Krai. Experts believe that the law will significantly accelerate special economic zone development and boost investments.

Источник: tass.ru

Economic recession in Russia may reach 5% in 2015 — deputy PM

The decline of Russia’s car industry should not exceed 30% in the end of 2015, says Deputy Prime Minister Arkady Dvorkovich

MOSCOW, November 11. /TASS/. Economic recession in Russia may virtually reach 5% in 2015, Deputy Prime Minister Arkady Dvorkovich said on Wednesday.

«We’re facing a 5% decline of GDP this year,» he said.

According to the official forecast prepared by the Economic Development Ministry, GDP in Russia will decline by 3.9% this year.

Deputy PM also said imports have fallen by around 30% this year. «This means that the share of local production has risen,» Dvorkovich said, adding though that the investment cycle of import substitution projects is rather long. «The projects, which are being founded today, will only have effects in a while, in a short while, but still it’s not [going to be — TASS] in 2015,» he said.

Decline in Russia’s car industry should not exceed 30% in 2015

According to the official the decline of Russia’s car industry should not exceed 30% in the end of 2015.

«There were forecasts that the decline would be 50%, but the use of anti-crisis measures which was mentioned by Igor Shuvalov [first Deputy PM — TASS] made it possible to avoid such a decline.

According to our estimates it should not exceed 30%,» Dvorkovich said speaking in the State Duma, lower house of parliament.

Dvorkovich said that Russian automakers have the biggest advantage thanks to the application of anti-crisis measures.

«Comprehensive support to the city of Togliatti, Avtovaz [carmaker — TASS] made it possible to stabilize the situation in the region in general. Nevertheless, this issue remains in focus of our attention, and the measures relating to the labor market, creation of industries to substitute imports, as well as promoting a new line cars — all this is are among our priorities», he said.

Loans issued by Industry Development Fund may grow in 2016

Dvorkovich noted that the amounts of loans to be issued by the Industry Development Fund (IDF) may grow next year.

«We will increase amounts of loans [extended by IDF — TASS] next year for implementation of new projects if resources are available,» the deputy prime minister said.

The Industry Development Fund offers preferential conditions for project financing in industry sphere for the purpose of developing competitive new production facilities. The amount of the fund for 2015 is about 20 bln rubles ($310 mln).

Источник: tass.ru

Russia climbs 11 positions in Doing Business ranking

In 2015, Russia climbed from the 62nd to the 51st place

WASHINGTON, October 27. /TASS/. Russia’s Doing Business ranking rose by 11 positions during the year, according to a new international ranking of business environment, which is prepared annually by the World Bank.

In 2015, Russia climbed from the 62nd to the 51st place. It is only 0.02 points below the 50th position which is occupied by Peru.

In 2013, Russia ranked 92-th.

Improvement of business environment is one of the strategic tasks of the state.

In May 2012, the Russian president signed a decree on long-term government economic policy. This May decree sets the guidelines for improvement of the business climate in the country.

The decree sets the task to raise the country’s position in the Doing Business ranking from the 120th in 2011 to the 50th in 2015 and the 20th in 2018.

According to the World Bank, during the current year Russia carried out five economic reforms, which contributed significantly to the advancement of the country’s rating.

The greatest success was achieved for such indicators as «registration of property» /Russia has entered the top ten of the countries with the best performance/ «power supply reliability» and «transparency of electricity tariffs».

Источник: tass.ru

Russia, Finland to resume normal trade relations in 7-8 years — trade representative

The trade turnover between the two neighboring states will stand at $10.2 bln this year

HELSINKI, October 30. /TASS/. The trade and economic relations between Russia and Finland may be resumed by around 2022-2023, Russian trade representative in the country Valery Shlyamin told TASS on Friday.

The trade turnover between the two neighboring states will stand at $10.2 bln this year, Shlyamin said.

«Total trade between Russia and Finland decreased by 14.7% in 2014, according to the data provided by Russian customs services. In January-August 2015, it equaled to $6.5 bln, a 42.5% decrease year-on-year. Russian export totaled $4.8 bln, a 41.3% decrease while import stood at $1.8 bln, a 45.6% decrease,» he said, adding that «in 2015, Russian export is expected to reach $7.5 bln while import will stand at $2.7 bln.»

Shlyamin also said that this year the trajectory of trade turnover dynamics between the two countries reached its lowest point.

Experts at Russia’s trade representation in Finland expect «a sustainable trend towards restoration of trade relations within the nearest 5 years.»

«However, unfortunately, the trade turnover in 2020 will be a far cry from 2013 mainly due to $50 per barrel oil price keeping for a long period of time. Given a combination of factors, which influence the development of our trade relations, in a foreseeable future we’ll be able to reach the previous level of trade turnover by around 2022-2023,» Shlyamin said.

He added that commodities — energy resources, wood and some others — will still account for the bulk of Russian exports to Finland /over 60%/ while their share in Russia’s export structure will decline.

Источник: tass.ru

Italy ready to back enterprises cooperating with Russia — Economic Development Minister

The country’s government is ready to contribute to exchange of technologies between Russian and Italian companies as well as import substitution operations in Russia

VERONA, October 23. /TASS/. Italy is ready to back enterprises, which cooperate with Russia, the country’s Economic Development Minister Federica Guidi said on Friday on the sidelines of an economic forum in Verona bringing together politicians and business executives of Russia and Italy.

«Italy is ready to back enterprises, which are cooperating with Russia,» she said, adding that the country’s government is ready to contribute to exchange of technologies between Russian and Italian companies as well as import substitution operations in Russia.

Guidi also called for focusing on cooperation in the sectors, which are not under sanctions.

Italy will work to see sanctions lifted from Russia

Italy observes the sanctions the European Union imposed against Russia, but it will work to see the sanctions lifted, Italian Minister of Economic Development Frederica Guidi said.

«Of course, we will be observing the sanctions, but we are not just partner countries, we are the countries that have a long history of friendship to share. We will continue working to see the sanctions regime abolished,» Guidi told reporters.

«Italy is interested to see the situation with sanctions [against Russia] settled as soon as possible. We hope a diplomatic dialogue will continue, the Russian market is extremely important for a number of our industrial sectors, we want to get back to the development of partnership,» the minister told the forum.

«We continue active cooperation in the spheres not affected by sanctions, which is a positive moment,» she continued.

The sanctions blocked financing of certain investment projects and were hitting the agricultural sector (because of the Russian food embargo), the minister said.

«We had to pay a political and economic price for the sanctions,» Guidi said. «The only way to overcome this situation is to create conditions for a growth in those sectors that are not covered by the sanctions,» the minister said.

For incorporation of Crimea after last year’s coup in Ukraine, Russia came under sanctions on the part of the United States and many European countries. The restrictive measures were soon intensified following Western and Ukrainian claims that Russia supported militias in self-proclaimed republics in Ukraine’s southeast and was involved in destabilization of Ukraine.

As countermeasures, Russia imposed on August 6, 2014 a one-year ban on imports of beef, pork, poultry, fish, cheeses, fruit, vegetables and dairy products from Australia, Canada, the European Union, the United States and Norway.

Источник: tass.ru

Volume of trade between Russia and Japan down by 38% in 10 months 2015

The volume decreased due to the fall of the ruble and oil prices, Japanese Ministry of Finance told TASS

TOKYO, November 19. /TASS/. The volume of trade between Japan and Russia in 10 months of 2015 in dollar terms decreased by 38% due to the fall of the ruble and oil prices, Japanese Ministry of Finance told TASS Thursday.

Trade turnover between Russia and Japan in the reporting period amounted to a little over $17.7 bln. In the first 10 months of 2014, the bilateral trade volume reached nearly $28.3 bln.

Just like before, about 70% of the Russian export includes energy sources with considerably smaller prices. In October, for example, Japan has paid 33% less for energy sour than a year ago. In October, revenue from the supply of Japanese cars to Russia has also fallen by the same amounts due to reduced demand in Russia.

At the same time, the trade balance in 10 months was in favor of Russia in the amount of nearly $9 bln.

Источник: tass.ru

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