Pan Pacific Agency became an investor in the Russian Far East with global goals and local tax benefits

Kirill Kryukov (R), the CEO of the Pan Pacific Agency's parent company, during the signing of the investments agreement with the representative of the JSC “Corporation for the Development of the Far East” (a management company of the free port of Vladivostok). Photo by the Pan Pacific Agency.

VLADIVOSTOK, Sep 12, 2019, Pan Pacific Agency. The publisher of the International News and Analytical Agency ‘Pan Pacific Agency’ became a resident of the free port of Vladivostok for implementation of the investment project to development & expand its media asset in the market of the Asia-Pacific region (APR), reported the Pan Pacific Agency.

On August 26, ‘Pan Pacific Agency LLC’ (Vladivostok) was included in the register of government-backed investors operating in the Russian Far East. On September 10, the company received a certificate from the Ministry for the development of the Russian Far East and the Arctic, which provides tax and administrative benefits for the project’s execution phase.

Pan Pacific Agency solves a one of the most important task of Russia’s development in the Asia-Pacific Region in the 21st century – the creation of an operating mechanism for positioning the Russian Far East in the English-speaking media space of the Asia-Pacific countries to attract the attention of the business community of neighboring states.

The project also solves the problems of compilation the fragmented information space of the Pacific region, creating the “information window” of Russia (focusing on the Russian Far East), reflecting the economic, geopolitical and other interests of the state in a language that is understood by an international audience. Pan Pacific Agency aims to create a reputable international platform for the professional media community cooperation.

The effect of the project will be the creation of new high-tech jobs, the overall increase in the efficiency of attracting constant tourist flows to the Russian Far East, direct foreign investment from the APR countries, the establishment of regular communications of executive authorities, business communities of the Russian Far Eastern Federal district with an interested international audience.

“The status of a resident of the free port of Vladivostok allowes the project to obtain all preferential rates on basic taxes and contributions to social funds, which significantly reduces the key item of operating expenses for all media companies – the wage fund. As a result, we expect to recruit more employees to the editorial office and commercial services and reach break-even point in less than three years,” – Kirill Kryukov, CEO of the Pan Pacific Agency’s parent company, said.

According to Pan Pacific Agency’s Managing Partner Dmitrii Shcherbakov, the new media development strategy also implies providing services to Russian companies including other residents of the Free port of Vladivostok (FPV) and Advanced Special Economic Zones (ASEZ) interested in promoting their products in traditional media and social media of the countries of the Asia-Pacific Region. “We mark the demand for this service, and that is why we expand our focus on communications, – the study of foreign media markets, content creation and content adaptation”, he explains.

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