Dmitry Kafanov commented the investment attractiveness of Russian Far East for Corporate INTL Magazine

Dynamic business activity in Russia

Russia has undergone significant changes since the collapse of the Soviet Union, moving from a globally-isolated, centrally-planned economy to a more market-based and globally-integrated one. Today, Russia is one of the fastest developing jurisdictions in the world and belongs to a group of BRIC countries – leading emerging economies.

As noted by Dmitry Kafanov, partner at the Inmar Legal Ltd, Asia-Pacific Economic Cooperation (APEC) is the premier forum for facilitating economic growth, cooperation, trade and investment in the Asia-Pacific region. Russian government announced APEC summit in Vladivostok in 2012 as one of its main strategic projects.

Mr. Kafanov commented: “This event is expected to make an impact on the development of different fields of economy, infrastructure of Russian Far East, and improvement of social conditions. There are several large projects in infrastructure and road building, modernisation of local airport, and hotel development which will be realised as APEC summit projects.”

Moreover, the development of the Far East attracts the investments in many other fields, pointed out Mr. Kafanov. There are many projects in shipbuilding, marine business, fishery, agriculture, and real estate building.

“Many of them are being realised with foreign investors’ participation,” said Mr. Kafanov. “For example, leading Korean company Daewoo Shipbuilding & Marine Engineering Co. Ltd in coordination with Russian government shipbuilding corporation OSC will construct a new modern shipyard on additional 1 million square meters site in Zvezda shipyard near the Vladivostok. Zvezda-DSME will be able to build large commercial vessels.

“Further, Singapore company CIMC-Raffles in coordination with OSC will complete a project in offshore shipbuilding.

Source: Corporate Intl Magazine, January 2012.