Saudi Venture Capital invests $4.99m in VentureSouq

Saudi Venture Capital invests $4.99m in VentureSouq

VLADIVOSTOK: Experts attending the Eastern Economic Forum, which is taking place in Russia, discussed ways to increase inter-regional cooperation in the field of logistics.

The development of traditional and new maritime and intermodal freight transport routes through the Far East, and the expansion of port infrastructure in the region are among the key priorities of the Russian government.

The forum’s venue in Vladivostok is buzzing with activities including panel discussions where top business executives, representatives from government agencies, and officials from different countries are discussing ways to boost cooperation in the field of logistics by using the latest digital technologies. 

Shifting priorities

“Now the logistics chains are changing, the orientation is toward the eastern direction. In this regard, the role of the Northern Sea Route as a new additional transport artery is significantly increasing,” Haji Mohammad Huseynov, first deputy minister of the Russian Federation for the development of the Far East and the Arctic, told Arab News after a panel discussion.

The Northern Sea Route is part of a new transport corridor benefiting the socioeconomic development of the Arctic and Far East and the development of a new international route for the sustainability of global supply chains. More than 2.5 million people inhabit the Russian