Putin: in the Far East There is Opportunity for Multiple Growth in Extractive Industries
According to the president, the percentage of subsoil exploration in the Far East on average across regions is now 35%
The subsoil in the Far East is only 35% explored, taking into account this there is scope for multiple growth in the extractive industries, including scarce and strategically important types of raw materials. Russian President Vladimir Putin stated this while speaking at the Eastern Economic Forum (EEF).
“The percentage of subsoil exploration in the Far East on average across the regions is now 35%. Do you understand? Only 35% of the subsoil has been studied. This suggests that there is still every opportunity for a multiple growth in the extractive industries, including in scarce, strategic types of raw materials , in demand in the economy of the future,” he noted.
All this, Putin continued, “is not only a guarantee of the country’s resource sovereignty, but also the basis for the production of new materials, microelectronics and promising energy sources, for the promotion of domestic environmental, nature-saving technologies and scientific developments, and for the creation of high-quality jobs.”
This, according to the head of state, is the implementation at a new level of the natural competitive advantages of the Far East, and indeed of all of Russia.
