According to the Minister for the Development of the Russian Far East and Arctic, thanks to using the Far Eastern Concession program the first of the projects are nearing completion.

The minister said that his ministry makes an emphasis on the projects’ economic effects.

“We prioritize new economic sectors, including innovations, to execute the President’s assignment to create a new economy with high added value, an economy of high salaries,” Chekunkov added.

The Far Eastern Concession program helps attract private investments to building the infrastructure and the state is to compensate for the investments during at least 10 years after the facilities have been put into operation.