The Ministry for the Development of the Russian Far East, the Far East and Arctic Development Corporation (FEDC), and the Federal State Unitary Enterprise "Vostokgosplan" are participating in the development and implementation of master plans for cities in the Far Eastern Federal District and key Arctic settlements.
The Port of Pevek is the largest in Chukotka and a key element of the Northern Sea Route, handling the bulk of seasonal cargo and fuel shipments. However, the city remains one of the most difficult to access in the country: there is no year-round road service, an ice road operates in winter, and transportation is limited in summer.
Pevek is a key industrial and energy center in Chukotka. The city's economy is based on mining and energy. The city's main employers are gold mining companies, including the “Mayskoye” Gold Mining Company and the “Chukotka” Prospectors' Artel.
Pevek's master plan includes modernizing the port and airport infrastructure, replacing the decommissioned Chaunskaya Thermal Power Plant, constructing housing, public and business spaces, and developing the urban environment. Implementation of these measures will increase the city's gross domestic product, create over 4,000 jobs, and improve quality of life in extreme climates.