Vladivostok Free Port hands out residential status to first 29 enterprises

Twenty-nine companies working on projects worth a total of  approximately $1.2bn have been granted residential status in Vladivostok Free Port, the zone’s supervisory board  told a meeting convened by Russia’s Deputy Prime Minister and its Far Eastern Federal District  presidential envoy Yuri Trutnev today. 
The projects include the construction of a coal terminal that will be used to  export Russian mineral resources to the Asia Pacific and  the manufacture of (among other things) elevators, electrical products and parts, bicycles, reinforced concrete slabs and plastics. Between them, these projects are expected to help create up to 3,000 new jobs.

Yuri Trutnev, Presidential Envoy to Russia’s Far East

“This is only the beginning of a long journey,” Trutney said. “Primorsky Territory  boasts a unique business climate and we hope investors will recognise this. For our part we are ready to offer them all-round support.” 
The Vladivostok Free Port Zone was set up on October 12 and encompasses 15 municipalities with an overall area of 28,400 km²  and a population of 1.4m. 

Source: ITAR-TASS