Vladivostok to become Russia’s first “free port” in boost to Far East economy

Vladivostok Bridge and ShipVladivostok: From next July, Vladivostok will become Russia’s first ‘free port’ as President Putin makes good on his pledge to help stimulate the economy of the Russia’s Far East. Under the terms of its new status, Russia’s principal Pacific port will enjoy a relaxation of customs regulation, tax incentives for port operators and a lower cost regime for visiting ships. “Russia has great potential to become as a major power in the Asia-Pacific region,” Putin said in his State of the Union address last week.” Vladivostok has a population of 600,000 and is situated close to Russia’s borders with China and North Korea at the the head of Golden Horn Bay. The Siberian Times