VLADIVOSTOK, October 12 (RIA Novosti) - The APEC summit to be held in Russia's Far East in 2012 will help the region attract 3 trillion rubles ($100 billion) in investment by 2015, the governor of the Primorye Territory said on Monday.
Sergei Darkin said at a meeting with Prime Minister Vladimir Putin that investments, which include large-scale infrastructure projects, would triple the gross regional product and double wages in the region.
"Our work which we started during the crisis to build APEC summit facilities has already boosted the gross regional product by 1.5%," Darkin said.
Russia suggested in November 2006 holding the 2012 summit on Russky Island, to the south of Vladivostok in Peter the Great Bay, which APEC approved in 2007. The summit will bring together the leaders of the 21 Asia-Pacific Economic Cooperation member states, which include economic giants China and the United States, and cumulatively account for about half of the global economy.
The Primorye governor earlier said that substantial investment would go into environmental projects, water supply and sewage systems, tourism, services, infrastructure, and construction, ranging from a conference centre, an international press centre, a medical centre, and other facilities.
APEC is the world's largest international trade and economic organization, with member countries accounting for 2.5 billion people and with a combined GDP of $19 trillion. Pacific Rim countries include Russia, Australia, Canada, China, the United States, Japan, and South Korea.
