Putin Orders Creation of Industrial Hubs in Russia’s Far East and Arctic by 2030

By Staff, Agencies

Russian President Vladimir Putin has ordered the establishment of at least ten new industrial and technology parks across the Far East and Arctic regions by 2030, the Kremlin announced Monday.

The directive calls on the government to develop technology, industrial, and business parks aimed at supporting small and medium-sized enterprises (SMEs) engaged in strategic industries and national technological priorities.

According to the Kremlin statement, the facilities will be built in the Far Eastern Federal District and the Arctic zone, hosting SMEs involved in production activities linked to national innovation goals and their supply chains.

Putin also instructed the cabinet to coordinate with the Bank of Russia to advance plans for a new financial center in the Far East, based on the V.V. Nikolaev Eastern Exchange Joint-Stock Company.

The initiative is meant to attract capital and facilitate share listings by Russian firms under favorable regulatory conditions.

The move is part of Moscow’s broader push to strengthen economic self-sufficiency and pivot toward Asian markets amid Western sanctions.

The Kremlin has increasingly prioritized the development of its eastern territories and Arctic corridor as key to future growth, trade, and energy logistics.