(MENAFN) Russian President Vladimir Putin has directed the government to establish multimodal transport and logistics centers along Russia’s borders with China and North Korea to enhance trade connectivity and infrastructure across the Far East, according to a Kremlin statement on Tuesday.

The initiative was part of a series of orders issued following the Eastern Economic Forum. Putin also instructed the Cabinet to finalize, by Dec. 1, a comprehensive roadmap for the long-term development of rare earth metal mining and production.

As part of broader regional development plans, the government aims to create at least 10 new industrial, technology, and business parks within the Far Eastern Federal District and Arctic territories by 2030 to support small and medium-sized enterprises.

In addition, the Far Eastern and Arctic mortgage program will be expanded to benefit families with a third or subsequent child born after Jan. 1, 2024, as well as public education employees and homebuyers purchasing secondary housing in cities lacking new residential construction.

Putin further instructed the government and the Central Bank to submit, by July 15, 2026, detailed proposals for the creation of a new financial center in the Far East, centered around the Eastern Exchange.

MENAFN06112025000045017640ID1110302924