Japanese Project Promotion Vehicle in the Far East (JPPV LLC) signed on December 10, 2021 a Services Agreement with ITOCHU Corporation. The Services Agreement envisages the provision of necessary conditions to ITOCHU Corporation for new business in the Russian Far East.
ITOCHU Corporation is Japanese company expressing interest in participation in business in Russian Far East, using preferences of the Advanced Special Economic Zones (ASEZ) and Vladivostok Free Port (VFP).
JPPV LLC 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 VEB.DV 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 ITOCHU Corporation 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.