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The Far Eastern state program will additionally include 4 more investment projects from Yakutia

22 investment projects with a total investment of 147 billion rubles are approved for inclusion in the state program Social and Economic Development of the Far East and the Baikal Region, 4 of them come from from Yakutia.

Such a decision was made following the results of the meeting of the Subcommission on the Implementation of Investment Projects in the Far East of the Government Commission for the Social and Economic Development of the Far East and the Baikal Region.

"These are investment projects that will be implemented exclusively through private investment. There is no federal funding for them. At the same time, we expect that the inclusion of these projects in the state program will allow business to get better administrative support, to raise the status for attracting additional investments in projects. Minvostokrazvitiya already carries out such work," said Deputy Prime Minister - Plenipotentiary of the President of Russia in the Far Eastern Federal District Yuri Trutnev.

As the Deputy Prime Minister noted: "The Russian government must support investment projects that are implemented within the framework of the country's legislation, while the risks are assumed by the investors themselves. Some projects, unfortunately, may not come true, but we must make efforts to the utmost to help them. Not so many citizens of Russia take the responsibility to implement some kind of investment project. Not everyone has such opportunities. This is a risk. This is a bank loan, for which you need to be responsible. These are market fluctuations. If we do not support such people, then at the expense of what will we develop?" 

State support was given to four Yakutia projects: the construction of a plant for the production of ceramic bricks, an investment project for the modernization of leather & footwear and fur production, as well as a project to create a timber processing complex in the Aldan District of Yakutia, a jewelry and diamond-cutting cluster in the ‘Kangalassy Industrial Park’ Advanced Development Zone.