Putin Urges Investors To Invest In Russia's Far East

putin-russia — Russian President Vladimir Putin is seen during the signing of joint documents following the BRICS leaders meeting at the BRICS/SCO Summits on July 9, 2015, in Ufa, Russia. Ramil Sitdikov/Host Photo Agency/Ria Novosti via Getty Images

VLADIVOSTOK, Russia (Reuters) - Russia is interested in both foreign and domestic investment, especially in the country's Far East region, President Vladimir Putin told the Eastern Economic Forum on Friday.

Making an appeal to countries from the Asia-Pacific region, Putin said his government will increase efforts to develop Russia's Far East.

"(We) will provide to investors the best conditions to do business so the Far East of Russia can successfully compete in terms of efficiency and return on capital with leading business centers," Putin told the conference in Vladivostok.

He added that the country's largest oil firm, Rosneft, will invest 1.3 trillion rubles ($19.56 billion) in projects in the region.

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