2nd Eastern Economic Forum: analysis of new investment projects

Abstract

In early September 2016, the 2nd Eastern Economic Forum was held on Russky Island. It generated great interest in spite of the sanctions imposed on Russia and an anti-Russian campaign waged by the foreign media. The Forum was attended by major business leaders from 56 different countries. The results of the Forum were equally impressive: in two days, over 214 agreements were signed, totaling RUB 1.85 billion. This proves that not only Russia, but the East Asian countries as well turned to their far eastern regions. Aim. This study aims to analyze the results of the Eastern Economic Forum. Tasks. This study examines new investments projects and agreements signed at the Forum and the importance of new structures - priority development areas (PDA) and the Commercial Port of Vladivostok, which was granted the status of a “free port” in 2016. Results. The analysis proves the contribution of public and private companies to the technology-driven reindustrialization of the Russian Far East as a result of economic relations with highly developed Japan and the Republic of Korea. It is established that the Eastern Economic Forum improves the political image of the Russian Federation as well as its economic capabilities.