Putin orders logistics hubs on China, North Korea borders

ISTANBUL

Russian President Vladimir Putin has instructed the government to build multimodal transport and logistics hubs along the borders with China and North Korea to strengthen infrastructure and trade routes in the Far Eastern region, the Kremlin said on Tuesday.

The order was among a list of directives following the Eastern Economic Forum, where Putin also tasked the Cabinet with approving by Dec. 1 a separate roadmap for the long-term development of rare earth metal mining and production.

At least 10 industrial, technology, and business parks are to be created in the Far Eastern Federal District and Arctic territories by 2030 to support small and medium-sized enterprises.

The Far Eastern and Arctic mortgage program will be expanded to include families with a third or subsequent child born after Jan. 1, 2024, employees of public educational institutions, and buyers of secondary housing in cities where no new apartment buildings are being built.

By July 15, 2026, the government and the Central Bank are to present proposals for creating a financial center in the Far East based on the Eastern Exchange.