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Investment projects in ship repair, fish processing to be promising for Magadan

In May, a bill on the advanced-development territory in the Magadan Region passed the State Duma

MOSCOW, June 4. /TASS/. Promising sectors for investment projects in the Magadan Region's advanced-development territory are ship repair, fish processing, logistics, tourism and mining equipment services, Deputy Minister for Development of the Far East and Arctic Vitaly Altabaev said.

"We see ship repair, fish processing, logistics, tourism, and mining equipment services as promising investment projects for the future advanced-development territory," he said. "We will focus on processing industries and will try not to favor mining."

The plan has been agreed with the Magadan Region's government and now awaits the law adoption, he continued. "We expect that immediately after the bill is adopted, we will formalize the comprehensive plan," he added.

In May, a bill on the advanced-development territory in the Magadan Region passed the State Duma. The current free customs zone will remain in the region. The advanced-development territory will be organized within administrative boundaries of the city of Magadan.

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