Asian Investors Eye Far East
- The Moscow Times
- Jul. 19 2013 00:00
- Last edited 20:02
Asian investors are keen to invest in infrastructure development in Russia's Far East, including the Trans-Siberian Railroad and Baikal-Amur Mainline, Russian Railways president Vladimir Yakunin said at a railway coordination council in Khabarovsk Thursday.
"Several investors from China and South Korea have spoken with me and they are interested in [Russia's] infrastructure projects," Yakunin said, RIA Novosti reported.
However, the inflow of foreign funds is hampered by the lack of adequate laws to allow private investors to provide money, Yakunin said.
Russia's Far East has the necessary rare materials needed for Japan's high-tech industry. It also has oil, gas, coal and other resources sought by rapidly developing China and South Korea.
Huge state investment in the region is planned over the coming years.