Putin's Far East Plan Until 2036
President Vladimir Putin of Russia announced the commencement of the implementation of the updated strategy for the development of the Far East region until 2036, with the aim of transforming it into a hub for economic growth and investment attraction. He highlighted that housing construction rates have doubled over the past six years, and 220,000 families have benefited from mortgage programs with a 2% interest rate. Additionally, the region’s gross domestic product has more than tripled over 11 years, attracting investments totaling approximately 25 trillion rubles (around $294 billion), while the unemployment rate has decreased to 2.2%. These plans are part of Moscow’s efforts to boost economic development in areas of strategic importance, focusing on improving living conditions, developing infrastructure, and attracting residents and investments.
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