Russia invites Japan to take part in Vladivostok free port project

TOKYO, May 21. /TASS/. Russia invites Japanese companies to take part in the Vladivostok free port project, Russian Deputy Minister for the Development of the Far East Sergei Kachayev said on Thursday. "We invite Japanese companies to take part in the implementation of this global project," he said at the Russia-Japan: Points of Contact forum. He said the free port of Vladivostok embracing 13 municipalities would have a "free legal regime of entrepreneurial and investment activity." "It will have a free customs zone regime, a single unified tax, a visa-free travel regime and will offer a simplified registration and management procedure," he said, adding that such port would make it possible to cut transport expenses and would promote the arrangement of international transport corridors. Earlier on Thursday, the idea of the free port of Vladivostok was hailed by Vice President of the Japan Business Federation (Keidanren) Norio Sasaki. "Japan is positive about the Russian authorities’ initiative to make Vladivostok a free port, since it will help promote the inflow of Japanese companies," he said, addin that up to 90 percent of Japan’s investments in Russia were concentrated in the Far East. Read more