Issue 156 – Mirror of Vladivostok News

Issue 156 :: Thursday, December 11, 1997


Business Business Chronicle
The Vladivostok News	12/11/97 02:46 PM
Prisco creates daughter Prisco Sakhalin, a subsidiary of the Primorsk Shipping Company, registered recently to compete for project tenders in the Sakhalin-2 oil project. Prisco is the only firm transporting oil from Sakhalin-1, but many foreign oil-carriers will compete to carry oil for the developing Sakhalin-2. Prisco will build three 45,000 ton tankers for its daughter company.
Any comments?



Business Rumors aside, Hyundai won`t build cars here
by Nick Wadhams	12/11/97 02:45 PM
Vladivostok’s business community buzzed recently when press sources reported that representatives from the Hyundai Group visited two factories in Arseniev to consider building an automobile plant in Primorye.
Any comments?



Business VTF removes old guard
by Nonna Chernyakova	12/11/97 02:45 PM
The Moscow investment corporation Partnership recently acquired full control over Primorye shipping giant Vostoktransflot during a Nov. 26 shareholders’ meeting. The event marks the first time in Primorye that such a large company – with the third largest refrigerator fleet in the world – will be run by a team of young professional managers.
Any comments?



Business Profit losses pinch fishing co`s
The Vladivostok News	12/11/97 02:44 PM
Leaders of Primorye’s fishing companies gathered recently to warn the federal government against foot-dragging on a new tax code. Their reason: If tax laws in the region don’t get better soon, fish suppliers may face bankruptcy.
Any comments?



Business Stumbling tax code halts reform
by Nick Wadhams	12/11/97 02:44 PM
When Russia’s much-anticipated new tax legislation stalled last month in the federal Duma, officials in Primorye knew that the following year would be a difficult one. But now that tax changes will not occur until the middle of 1998 at the earliest, locals have already chalked up 1998 as a wasted year in Russia’s reform process.
Any comments?