icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

Russian Pacific Congress thinks big about the future

An economic revolution, construction, and an investment boom await Russia’s Far East – that’s the general tone at the Pacific Economic Congress which has opened in the city of Vladivostok.

The international forum is being held for the first time, but has gathered many prominent guests, among them officials from the Asia-Pacific Economic Co-operation organisation.

Russia will be using the forum to put forward its bid to hold the presidency of APEC in 2012.  

The final decision on the presidency for that year will be made at this year's summit in Sydney in September. If Russia wins, it promises to invest about $ US 3.8 BLN dollars in the Far East, which is more than the money allotted for the Sochi Winter Olympics.

“I came here with money – big money – which I am sure will give an incentive to develop the region and attract private investment,” joked Russian Finance Minister Aleksey Kudrin.

The summit is planned to take place on Russky Island which is located in the Sea of Japan. Being a vast territory rich in natural resources, it is hoped that hosting APEC will be a catalyst for developing the island's infrastructure and tourism.

Dear readers and commenters,

We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system.

Sorry for the inconvenience, and looking forward to your future comments,

RT Team.