vlad.tribnet.com / Issue #164 / Business / Reading article...

Tokyo eases visas

Tokyo simplified the procedure for issuing visas to Russian businessmen March 23 as part of ongoing talks between President Yeltsin and Japanese Prime Minister Ryutaro Hashimoto. Visas will now be granted three days after an application is received, down from seven days.

Krai boss named to board

Primorye First Vice Gov. Konstantin Tolstoshein became a member of semi-precious metal manufacturer Dalpolymetal’s board of directors after a shareholders’ meeting in March. The move became possible when the Swiss company Glencor, which holds a controlling stake in Dalpolymetal, ceded shares to the krai administration in exchange for government support. Last year Dalpolymetal reported losses of 40 million rubles ($6.5 million).

Turkey may want choppers

Primorye combat helicopter maker Progress will participate in three competitive bids this year, designer Sergei Mikheyev told the Vladivostok recently. Turkey wants to buy 145 helicopters, while Singapore will buy 30, and Finland 24. Progress also signed a letter of intent to join a newly created government-run helicopter-making consortium.

Rail business falls

Business in the Vladivostok railroad division declined by 17 percent over the first two months of this year, as compared to the same period in 1997. Cargo coming to the krai from the rest of Russia fell by more than 20 percent, while imports from abroad were up slightly. A continuing strike by the Pavlovsky coal mine has been especially hard for the railroad, which gets 50 percent of its business from coal transportation. A strike closed the mine, causing the railroad losses of five million rubles ($830,000) in 17 days.

Japanese sign agreements

Three Japanese companies recently signed cooperation agreements with energy supplier Dalenergo and the Nakhodka Free Economic Zone, and will now begin the planning stages of a 180 megawatt power plant project near Ussurisk. The Hyundai, Sumitomo, and IHI companies will also help redevelop the energy sector. The agreement is part of the zone’s drive to establish reliable power in the region, as both the United States and Korea may build enormous, energy-draining technology parks in the region within the next few years.