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China will invest $11 billion in tourism developing on Baikal


China is planning to invest $11 billion in tourism developing on Baikal. The memorandum of collaboration was signed by the biggest in Irkutsk region tour operator “Grand Baikal” and a Chinese company “Zhung Jingxin”.

Throughout the memorandum it is planned to build tourist facilities, also “create concurrent, based on modern technologies, transport and other extensive logistic infrastructure at the surroundings of Baikal lake and adjacent areas, that is aimed to efficiently provide large-scale tourist flow to the region”, -was said in the report on the tour operator’s website.

Also, it is noted, that the necessary condition of the project realization is strict adherence to environmental standards and legal requirements for the protection of Lake Baikal.

According to Chinese experts’ evaluations, the volume of investment will amount to $11 billion. As the base platform of the project is considered the former site of the Baikal pulp and paper plant in Baikalsk. This, according to operator’s opinion, will provide “serious impulse to socio-economic development of this problem area”.

In June diplomatic mission of the State administration of tourism in China asked Russia to simplify the visa regime for Chinese tourists and reduce expenses of Chinese airlines. A corresponding letter was sent to Sergey Krivonosov - the Chairman of the expert Council of State Duma of domestic and inbound tourism.

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