Abstract
The macroregion Siberia possess large reserves of natural resources, which makes it possible to create a modern high-tech infrastructure for their extraction and processing. The production of final products in this region can become a driving force for the development of the Russian economy in the medium and long term. Unlocking the potential of Siberia and the Far East requires significant investments comparable to the money spent by the USSR for the development of Western Siberia, the North, the Arctic and the construction of the BAM (the Baikal-Amur Mainline). The volume of public investment is insufficient for the dynamic development of the region, so to obtain additional investment funds stimulation of the private sector of the economy is required. Potential investors have the sufficient financial resources, but it is necessary to improve an investment climate in Russia. It will allow the country to attract the maximum amount of money. To improve the investment climate one should make significant changes in the management, legal, banking and other aspects of business activity in Russia.
Highlights
The Government of the Russian Federation has been paying special attention to the development of Siberia and the Far East
According to the RAS to ensure the accelerated development of Siberia and the Far East providing the GRP growth rate 1.52.0 percentage points ahead of the national average, it is necessary to invest 16.5 trillion rubles in the period up to 2030, while state's share of participation ranges from 25% to 34 %
Investments in the production of oil/gas, mining, road construction equipment, ships, oil/gas production platforms and equipment required for the development of fields in Siberia, in the Far East and in the Arctic shelf are estimated at 16-18 trillion rubles
Summary
The socio-economic development strategy of the Far East and the Baikal Region up to 2025 approved by the Government of Russia in 2009. In accordance with characteristics of the territories under consideration given by the strategy the main problems hindering their development are economic and infrastructural isolation from the rest of Russia, the poor quality of internal transport links between the territories combined with their huge sizes, the focal model of settlements with low population density, agriculture in unfavorable climatic conditions, the high cost and seasonal nature of cargo delivery for the Arctic and northern regions of the Far East. One should note that the region has a number of competitive advantages It is an economic and geographical location (first of all, the shortest East - West transport routes) in the Asia-Pacific region, huge reserves of natural resources, long land and water borders as opportunities for socio-economic cooperation, developed seaport infrastructure, attractive tourist sites. To improve the economic performance of the region the strategy provides implementation, among other things, of investment projects concerning the electric power industry and the transport infrastructure of the Far East aimed at improving transport accessibility, capacity of the Baikal-Amur Mainline and the TransSiberian Railway, improving the quality of transport and logistics services and integration into international transport and logistics systems
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
