| Summary: | One can consider the development of Siberia and the Far East also called macroregion Siberia as Russia’s comeback to its historic movement towards the East which will give Russia sustained economic growth based on the country’s entry into the global division of labor and its active position in the markets of the Asia Pacific Region. It is the region that has become the center of global economic and technological development in the 21st century. Gaps in the country’s economy should be overcome both between separate sectors of the economy and between regions. The development of Siberia and the Far East has huge potential for the development of Russia as a whole, and it will largely determine its geoeconomic prospects in the 21st century. Such development means the introduction of new approaches to the raw materials sector, the creation of transport and energy infrastructure, as well as the development of deep processing industries, the creation of a dynamic innovation sector, improving the living standards of the population and, in general, the formation of new environment for living and people’s self-actualization. Otherwise, Siberia and the Far East are doomed to be subsidized territories with low returns for the country and its inhabitants. According to the author, the development of mechanical engineering focused on the extractive industry can be one of the main factors ensuring the successful development of the economy of the macroregion Siberia and Russia.
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