Chinese delegation visits Etorofu, interested in tourism and aquaculture - Russia's Far East

The government of Sakhalin Oblast in Russia's Far East announced on the 13th that a delegation consisting of local government and business officials from China's Heilongjiang Province visited Etorofu Island in the Northern Territories. The project is said to be part of Sakhalin Oblast's efforts to attract investment, and the Chinese side has expressed interest in tourism and aquaculture.

Governor Limarenko pointed out that the Kuril Islands (Northern Territories and Kurile Islands) have great potential for tourism and business development. He said their mission is to create a favorable environment for investors. The move appears to be aimed at expanding economic cooperation between China and Russia.

According to the announcement, Chinese company officials were particularly interested in sea urchin and sea cucumber farming. He also expressed interest in working with local companies to build a seafood processing plant. It is said that there are calls for more accommodation facilities for tourists on the Kuril Islands, and the group also visited potential sites for construction of tourism infrastructure.

Russia will designate the Kuril Islands as a special tax-free zone in 2022. Companies operating in the country are exempt from corporate taxes, and preferential treatment also applies to foreign companies.