Source Pravda.Ru

Magadan region attracts foreign investors

Participants of the Second International Investment Fair in Magadan have demonstrated  the capabilities of the development of resources of the region.

The presentation of regional projects was a success and made it possible to attract new investment for them. More than 70 investment projects were presented at the forum. The natural resources of the region attract investors and develop the region's economy.

"The implementation of investment projects in the mining sector will ensure the integration of the Magadan region in the global economy," the governor of the Magadan region, Vladimir Pecheny said.

Precious metals are the pride and wealth of the Magadan region. More than 3.5 thousand tons of placer gold have been extracted in the region. Specialists believe that the region has 300,000 tons of hard-rock gold.

"There are large-scale projects in the region, but the region needs help to develop them. Large projects need to be implemented with the participation of investors, including foreign investors. However, the Magadan region is not very well-known in other countries, unfortunately. Therefore, one needs to promote the region and attract people's attention to it," the Director of the International Centre for the Development of Regions, Igor Melamed said in an interview with Pravda.Ru.

The Magadan region has investment benefits and an extended regime of free economic zone.

"Holding such large-scale international conferences is extremely important for such territories as the Magadan region. They may seem to be remote territories, but they are vital for the Russian Federation. This will create a positive momentum and become the driving force of the economic development of the whole country. The center of world economy has now shifted to South East Asia. At the APEC summit, Vladimir Putin has opened the gateway to the huge promising region. Such forums as the one in Magadan is the basis that will make it possible to develop the territory," deputy chairman of the Duma Committee for Regional Policy and Affairs of the North and the Far East, Rostislav Goldstein, said in an interview with Pravda.Ru.

Pravda.Ru

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