Vladimir Putin, the Russian president, mentioned several times about theimportance of development of the Far East as one of the top priorities for Russia.He showed a strong commitment to the development of the Far East throughthe establishment of Far East Development Ministry, while restructuring thegovernment organization in May 2012. On December 12, 2013, Putin proposedto establish advanced social-economic development zones as a Far East developmentstrategy in the Congress speech. Bill on the advanced development zone submittedto the State Duma (House of Representatives) on October 15, 2014, is underreview, and is expected to be passed by the end of 2014. It offers drastic deregulationand unprecedented tax privileges so that the advanced development zone doesn'tremain behind in the competitiveness by comparison of the Asia-Pacific Specialeconomic zone: simplifying procedures to attract foreign skilled workers, easinginspection of central and local governments, applying customs procedure of customsfree zones, reducing and exempting corporation tax, payroll tax, mineral miningtax, property tax and land tax etc. There are some concerns and criticism in thatthere is no difference between the existing special economic zone and advanceddevelopment zone except for the more preferential tax than, but we can expectto the success of new institution since the he advanced development zone is executedby the strong commitment of President Putin. In particular, now 14 advanceddevelopment zones were designated in the Far East of Russia and we need to take business opportunity through analyzing the location and industrialcharacteristics of the zones.