The Expert Council of the Baikal Harbor Special Economic Zone (SEZ) has approved a project proposed by GEO RBK (a unit of the GEO GROUP) to build an international tourism and recreational facility.
The meeting was chaired by acting First Deputy Prime Minister of Buryatia Igor Zurayev. GEO GROUP is the second South Korean investor that applied for Buryatia’s Baikal Harbor SEZ resident status after the project was restarted. The new facility will occupy 280 hectares.
“All environmental requirements for the central ecological zone will be met during the construction, and the Baikal Harbor utilities infrastructure will eliminate any negative impact on Lake Baikal,” the company press service emphasized.
“Such facilities will contribute to the development of domestic tourism, which is now declining due to the lack of infrastructure and low competition in the industry, which leads to high prices,” economist Dmitry Afanasyev commented.