Assessing Contribution Of Largest Investment Projects To The Rf Far East Economy
Abstract
Starting from the late 20th century, the Far East of Russia faces serious challenges in its social and economic development, including the deterioration of the demographic situation and the growth of the share of resources in regions’ economies. To solve these problems, new regional policy tools were developed. These include advanced economic development areas and the free port of Vladivostok. These preference regimes aim at attracting investment in the economy of the macroregion by offering significant tax remissions and regular exemptions and they operate in the Far Eastern Federal District since 2015. We analyzed 20 large investment projects in the Far Eastern Federal District implemented by the residents of the advanced social and economic development areas and the free port of Vladivostok. During the analysis, we calculated the value added created through these projects. We assessed their share in the gross regional product of specific Far Eastern regions and the macroregion as a whole. We also calculated value added forecasts. We determined the structure of the value added according to the sources of primary income. The research showed that the share of the 20 largest projects in the gross regional product of the Far Eastern Federal District will increase by 2023. Due to the long lead times, the benefits of advanced social and economic development areas and the free port of Vladivostok should become visible 10-15 years after their establishment. We determined that between 2020 and 2023, the largest amount of value added will be received from resource extraction projects.
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About this article
Publication Date
21 June 2021
Article Doi
eBook ISBN
978-1-80296-110-2
Publisher
European Publisher
Volume
111
Print ISBN (optional)
-
Edition Number
1st Edition
Pages
1-1168
Subjects
Social sciences, education and psychology, technology and education, economics and law, interdisciplinary sciences
Cite this article as:
Lavrentev, I. A. (2021). Assessing Contribution Of Largest Investment Projects To The Rf Far East Economy. In N. G. Bogachenko (Ed.), Amurcon 2020: International Scientific Conference, vol 111. European Proceedings of Social and Behavioural Sciences (pp. 534-542). European Publisher. https://doi.org/10.15405/epsbs.2021.06.03.72