'Invest in Siberia' - Putin call to Asia-Pacific business partners

Speaking at the APEC summit in Bali, Vladimir Putin vowed that Russia is now providing a good investment climate for backs of three immense projects. 

'Public-private partnerships will help us to attract more investment into the economy,' he said. 'Several big projects are already underway on this basis in Russia, including projects to develop the transport infrastructure in Siberia and the Far East. 

'We invite business partners from the Asia-Pacific region to join in these projects and take part for example in the large-scale modernisation of the Trans-Siberian and Baikal-Amur railways, and developing the Northern Sea Route. 

'I know that many Asian countries are very interested in developing this transport corridor.We are giving foreign companies the conditions they need for working in Russia. The Russian Direct Investment Fund offers very reasonable if not preferential financing conditions and has already established good working ties with our partners in China and Japan.'

All three projects are seen as critical to Russia's aim of becoming a transport gateway between Asia and Europe but also are vital for domestic companies selling into foreign markets. Putin announced in June speech that up to 450 billion roubles would be invested from the National Welfare Fund on an expansion of the Trans-Siberian railway.

Modernising of the Trans-Siberian and the more northerly Baikal-Amur Mainline (BAM) will boost cargo carrying potential and ensure the future of two of the world's most iconic routes. The Northern Sea Route has become viable with global warming.