Last December the Russian State Duma passed a federal law limiting gambling facilities to four zones. One of these is in the Primoreye region of Eastern Russia, with significant numbers of Chinese tourists. Primoreye, once a part of China, was the subject of discussions at Saturday’s First Pacific Economic Congress held in Vladivostok, a meeting that attracted many politicians and businessmen from APEC (Asia-Pacific Economic Cooperation) countries.

President Putin, who pushed through the legislation for four gambling zones, stated that the summit of Pacific Rim countries would help jumpstart investment in Russia’s far east. He also said that he had issued a special decree establishing a state commission for coordination of socio-economic development in the region. Russia hopes that the 2012 APEC summit will be hosted by Vladivostok, a port in the Primorye Territory (also known as Primorsky Krai).

If Vladivostok is chosen to host the 2012 APEC summit, then as much as US$3.75 billion would be spent by Russia on the preparations, bringing a huge economic boost to the remote region and an important factor in the development of Primorye. The price of land has already risen on speculation that investment in at least one casino resort complex will be forthcoming. All gambling facilities outside the four selected zones will be closed by July 2009. (E-07.30.07)

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