The finance, economy and property management department of the Chukotka Autonomous Area has presented the Beringovsky priority development area to local businessmen in the Chukotka capital, said Alesya Kalinova, the head of the department.

"Beringovsky is the largest priority development area in the Russian Far East. It stretches for nearly 63,000 sq km and involves 47 economic activities. Commercial organizations and self-employed businessmen can become residents of the area if they sign an agreement with the management company, the Far East Development Corporation," Ms Kalinova said.