Russian President Vladimir Putin (C), Japanese Prime Minister Shinzo Abe (1st L), Indian Prime Minister Narendra Modi (2nd L), Mongolian President Khaltmaa Battulga (2nd R) and Malaysian Prime Minister Mahathir Mohamad attend the plenary session of the fifth Eastern Economic Forum (EEF) held in Vladivostok, Russia, Sept. 5, 2019. Themed "The Far East -- Horizons of Development" this year, the EEF is aimed at attracting investment in the Russian Far East and promoting dialogue between enterprises, officials and experts. (Xinhua/Bai Xueqi)
VLADIVOSTOK, Russia, Sept. 5 (Xinhua) -- Russia will continue to implement plans for the development of its Far East to continue its growth and contribute to enhancing trust and cooperation in the Asia-Pacific region, Russian President Vladimir Putin said here on Thursday.
"We are proud that the Far East has become today one of the symbols of the openness of the whole country, innovation and determination in removing all kinds of barriers for business and just human communication," Putin said at a plenary session at the fifth Eastern Economic Forum (EEF).
Russia has managed to create favorable conditions for the development of the Far East by investing considerable resources in the comprehensive modernization of the region and improvement of the business climate over the past decade and a half, he said.
As a result, the Far East has entered a phase of faster growth, with its industrial production growth amounting to 23 percent over the past five years, three times higher than in the whole country, he said.
In particular, 20 advanced development territories and the free port of Vladivostok have been formed, preferential tax regimes and support measures are being introduced and numerous jobs created, he said.
"I appeal to all colleagues who plan to invest in the Far East -- please take advantage of these opportunities, study them again. These are not promises -- this is a practice that is already in place. It works," Putin said.
He attributed the Far East's achievements partly to the "atmosphere of trust and constructive cooperation" in the Asia-Pacific region as a whole.
"We are interested in developing these positive trends, so that our common region is safe and stable," he said.
Putin praised the relations with Asia-Pacific countries and saw great prospects for them which reflect the rising status of the region in the coming decades.
Russia will continue to facilitate extensive cooperation with "everyone who is interested in it" and the Russian Far East will play a bigger role in this process, he said.
He said that in the future Russia will exert more efforts on the social-economic development of the Far East, which envisages, in particular, supporting young people with substantial measures, turning the region into a global center of high technology and new industries, as well as developing it as a global natural and tourist center.
He said this would be interesting for potential investors and companies already working here "because this will mean that we will continue to create a favorable socio-political environment and attract the necessary labor resources for the development of the region," he said.
Themed "The Far East -- Horizons of Development" this year, the EEF is aimed at attracting investment in the Russian Far East and promoting dialogue between enterprises, officials and experts.
Over 7,000 participants from more than 60 countries have gathered at the annual event held from Wednesday to Friday.
A total of 29 agreements are expected to be signed during the three-day event, according to a written agenda obtained by Xinhua, which is a media partner of the forum.
