The Far Eastern Federal District and the Arctic Zone of the Russian Federation are implementing 3,887 investment projects worth six trillion rubles, including 522 new investment projects worth 1.16 trillion rubles, Deputy Prime Minister Yury Trutnev said in an interview to the Rossiya 24 TV channel.

“Several companies have teamed up with regional leaders to claim that their projects have top-priority status. So far, we have not made any official decision, but we know all about prospective candidates. Most importantly, we realize that an international priority development area will be established,” the Deputy Prime Minister noted.

Presidential subsidies and master plans for developing Arctic cities and core communities have become regional development tools; 1.6 trillion rubles have already been allocated for implementing them.

“Work is underway, various facilities are being built, and we are confident that the Far East will prosper, and that its residents’ living and working conditions will improve,” Yury Trutnev stressed.

He added that Far Eastern and Arctic mortgage programs had made it possible to double housing purchases in the Arctic. Moreover, in the Russian Far East housing construction volumes have soared by 240 percent, thanks to the mortgage program. 

A federal law on an international priority development area will enter into force on January 1, 2026.