Dubai-based port operator DP World is interested in investing in Russia’s Far East region, the company’s Chairman Sultan Ahmed bin Sulayem said after a meeting with Russian President Vladimir Putin during the opening of the Eastern Economic Forum (EEF) held in Vladivostok from September 3 to 5.
Following the meeting, Putin mandated Yuri Trutnev, Deputy Prime Minister of Russia and Presidential Envoy to the Far Eastern Federal District, and Maxim Sokolov, Minister of Transport of the Russian Federation, to provide DP World with investment facilities and remove any hurdles to its potential business operations in the Far East, as well as to seek to expand collaboration with the company to include other regions of the federation in the future.
Bin Sulayem described the meeting with the Russian President as “a precious opportunity” which enabled exploring the existing and future potential of joint cooperation in the port operation and free zone sectors both within this vital region in the far east of the country and across the Russian federation in general.
“DP World has got the expertise and resources which position us to be a key player in the execution of Russia’s development plans, particularly for its eastern region’s port and free zone industry,” Bin Sulayem said.
Russia’s inaugural Eastern Economic Forum was held to encourage investors to come to and invest in the Far East region of the country – with the Territory of Priority Development and the Free Port of Vladivostok presented as main investment opportunities.
The Free Port of Vladivostok is expected to stimulate the economic development of the Russian Far East and the successful integration of Russia into the international economic relations system of the Asia-Pacific region. In December 2014, Putin offered to grant the capital of Primorsky, Vladivostok, the status of a free port with easy customs regime.