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Chinese investors to erect mariculture processing factory

Chinese investors have confirmed their intention to invest into mariculture development in Primorye. This came to light based on the outcomes of business meetings held between a delegation of businessmen from the PRC and Yuri Trutnev, the Presidential Plenipotentiary Envoy to the Far East Federal District, on December 14. The negotiations were attended by Governor Vladimir Miklushevsky of the Primorye Territory.

The Governor of the Territory met with members of China Overseas Development Association, whose members comprise 200 major Chinese corporations, and Cofco, China's leading company in producing and selling food products in China. Agriculture is the most promising area for cooperation with the Chinese partners being interested in growing and processing soybeans in the Primorye Territory.

In the course of negotiations held with the Primorye Territory Administration, the Chinese investors expressed interest in the Region's construction sector, including transport infrastructure facilities, mineral production and cooperation in tourism, more specifically, development of Primorye integrated entertainment zone and implementation of mariculture projects.

A meeting with representatives of major Chinese corporations, Cofco, Wen Lan Aquaculture, Sirius and TBEA was also held by Yury Trutnev, the Presidential Plenipotentiary Envoy to the Far East Federal District. According to the Envoy, the large-scale visit made by major Chinese businessmen, who brought specific projects with themselves, is a good step aimed to develop the Russian Far East's economy. He also emphasized that these negotiations were far from initial steps and certain decisions had already been made in respect of a number of the projects. For instance, the Chinese investors confirmed their intention to construct a mariculture processing factory in Primorye. According to He Jenway, the General Secretary of China Overseas Development Association, all requisite decisions have already been made.

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