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Russia Plans to Launch Three More Priority Development Areas in Far East

© Sputnik / Vitaliy Ankov / Go to the mediabankThe Vladivostok merchant seaport
The Vladivostok merchant seaport - Sputnik International
The new priority development areas are expected to attract 190 billion rubles ($3 billion) of investment in the region.

KHABAROVSK (Sputnik) — Russia plans to launch three new priority development areas (PDA) in the country's Far East, Russian Far East Development Minister Alexander Galushka said Thursday.

"On June 30, the governmental subcommittee on investment projects in the Far East will examine establishment of three new PDAs in the Far East," Galushka said.

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He added that the new PDAs would attract 190 billion rubles ($3 billion) of investment in the region.

Currently a total of 12 PDAs are active in the Russian Far East, including the Vladivostok free port. Over the past year the PDAs attracted 496 billion rubles in funding. According to the Russian minister, 2015 Eastern Economic Forum contributed much to the PDAs development, as 80 agreements worth 1.3 trillion rubles were signed during the event.

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