The first stage of the "Salmon of Primorye" project requires a $98 million investment and projects annual profits of $120 million. The shoe market, which endured a severe crisis in winter, now faces a new danger. Simple "price wars" have been replaced with more sophisticated sales promotions in Primorsky's goods market. Only two of Primorye's tobacco companies have established relations with foreign tobacco companies.
In cooperation with Moscow, the Krai has approved a major investment proposal "Salmon of Primorye" a ten year project to establish 19 fish farms. To administer the project, the Krai administration established the "Lotico" industrial and investment company. "Lotico" would construct fish farms using Norwegian technologies, feed-stuff and fish-processing factories. They would also construct 5,800 sq. meters of apartments. The farms would produce Atlantic salmon, trout, halibut and other species at projected volumes of 1,000 tons a year each.
The first farms would be constructed in rivers located in the Terney and Lazovsky regions. Negotiations have been held with the Norwegians, S. Koreans and Americans for equipment. A portion of the financing required would be provided by Norway.
The program is expected to provide no less than 3,000 new jobs at an average monthly wage of $500 (at the request of the Norwegian partners). The Administrative Committee of the Nakhodka Free Economic Zone, the Pacific Institute for Oceanography and Fishery Researches and several natural sciences institutes are involved in the program. The first stage of the program will require a $98 million investment and projects annual profits of $120 million (Page 4).
Vladivostok still lacks a central fish market despite a large campaign by the former Mayor Tolstoshein. However, two local residents have been successful where administration efforts failed. A married couple, a shipyard worker and a teacher, have opened a fish market near the "Moscow" cinema, in the First River district. To help finance the new business, they changed to a smaller flat and with the savings bought a refrigeration unit. Currently they sell about 1 ton of fish per day and carry as many as 30 species of fresh-water and salt-water fish. They plan to establish another fish market in future (Page 5).
The shoe market, which endured a severe crisis in winter, now faces a new danger. Wholesale inventory levels of summer shoes in Moscow alone exceed more than 10 million pair. More than 70% of delivered stocks remain unsold in some regions of Russia. Prices have already decreased by 20% and are expected to decrease by other 30% by the end of summer season. Several shoe companies, one of which had been cited as one of Russia's top 5 shoe companies, declared bankruptcy this past week. Experts believe their problems resulted from a failure to take into account changes in consumer preferences from the prior year (Page 5).
This years applicants for Vladivostok's institutes and universities have a unique opportunity to graduate from London University without leaving Vladivostok. It's reported that Far East State Technical University became the first Russian school ever approved by London University for remote graduation. Currently, only one area of study is available under the program "computing and information systems"
(Page 7).
An annual study of students applying for admission to Vladivostok universities and institutes was carried out by the Academy for Services and Management and showed that 41% intend to become economists, 15% want to study law, 17% prefer liberal arts, and 8% want to pursue medicine. 35% of those who chose economics said they believe this would provide the best chance for stable income in the future (Page 7).
Experts do not expect any new companies to enter Primorye's tobacco market. Only two of Primorye's tobacco companies have established relations with foreign tobacco companies: "Znak" collaborates with the Japan Tobacco (producer of "Hi-Lite"), "Stimul" works with both the Korea Tobacco & Ginseng Corp (producer of "88 Lights") and the US BAT Corp. Other companys purchase cigarettes from the Moscow distributors
(Page 13).
In general, the market for goods in Vladivostok has matured. Simple "price wars" have been replaced with more sophisticated sales promotions which include free services, warranties, and free gifts and buying terms. To successfully competite companies need to provide better products and services at a competitive price (Page 5).
With the approach of summer, dairy prices have declined, with more fresh product available on the market.
(Page 13).
Churches and religious movements are actively dealing with real estate in Primorye. Usually churches acquire real estate by purchasing a private home, demolishing the property and then erecting a new building on the site. This method is being used for the construction of at least three new churches in Vladivostok: a church located on Gaydamak (with a notable colorful roof), the Church of Grevs (pastor Kim Ben Kok) and the Ugolnaya Christian Methodists Church (led by Cho Hak Chul) (Page 24).
The state enterprise jewelry store "Amethyst" (12, Okeansky
prospect) is set for auction as part of it privatization (Page
24).