(MENAFN) Russian President Vladimir Putin has directed the government to establish multimodal transport and logistics centers along Russia’s frontiers with China and North Korea.

This initiative aims to enhance the infrastructure and commercial routes in the Far Eastern region, according to a statement from the Kremlin on Tuesday.

This directive was part of a series of instructions issued after the Eastern Economic Forum, during which Putin also assigned the Cabinet the task of approving, by December 1, a roadmap for the long-term advancement of rare earth metal extraction and manufacturing.

Additionally, a minimum of ten industrial, technological, and business zones are scheduled to be developed across the Far Eastern Federal District and the Arctic territories by 2030.

These projects are intended to foster the growth of small and medium-sized enterprises in these regions.

The Far Eastern and Arctic mortgage initiative will also be broadened to cover families with a third or subsequent child born after January 1, 2024, employees of public educational institutions, and purchasers of secondary housing in urban areas where no new apartment construction is taking place.

By July 15, 2026, the government and the Central Bank must submit proposals for the establishment of a financial hub in the Far East, which will be based on the Eastern Exchange.

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