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Putin urges investors to invest in Russia's Far East

Reuters - UK Focus

VLADIVOSTOK, Russia, Sept 4 (Reuters) - Russia is interested in both foreign and domestic investment, especially in the country's Far East (Kuala Lumpur: 5029.KL - news) region, President Vladimir Putin told the Eastern Economic Forum on Friday.

Making an appeal to countries from the Asia-Pacific region, Putin said his government will increase efforts to develop Russia's Far East.

"(We) will provide to investors the best conditions to do business so the Far East of Russia can successfully compete in terms of efficiency and return on capital with leading business centers," Putin told the conference in Vladivostok.

He added that the country's largest oil firm, Rosneft , will invest 1.3 trillion roubles ($19.56 billion) in projects in the region.

($1 = 66.4555 roubles) (Reporting by Denis Dyomkin, Katya Golubkova and Lidia Kelly; Editing by Ken Wills)