Japanese Project Promotion Vehicle in the Far East Limited Liability Company (JPPV) signed on August 29, 2019 a Cooperation Agreement with Akita Chuou Bandosaw & Co and Fuji Seisakusho, Ltd. (Companies). The Cooperation Agreement is to enhance closer relationship between JPPV and the Companies on working together through the exchange of advice and knowledge in connection with the preparation and implementation of wood processing projects in the Russian Far East.
The Companies are Japanese companies expressing interest in participation in projects related to wood processing, implementing in Russian Far East, using preferences of the Advanced Special Economic Zones (ASEZ) and Vladivostok Free Port (VFP).
JPPV was established on 14 March 2018 as a joint venture company co-founded by Japan Bank for International Cooperation, the Far East Investment and Export Agency and the Far East and Baikal Region Development Fund aiming to support Japanese companies in starting their business in Russia and promoting projects planned to be implemented in Russian Far East to potential Japanese investors.
The cooperation between JPPV and the Companies will become a practical step forward in enhancement of activity of Japanese investors in Russian Far East using opportunities of ASEZ and VFP and contribute to further deepening of economic relations between Japan and Russia.