Russian Deputy Prime Minister Alexander Novak reported that the North Caucasus region is becoming increasingly attractive for businesses year after year. During an interview with Andrei Kondrashov, the General Director of the Russian news agency TASS, on the sidelines of the Caucasus Investment Forum, Novak mentioned that investments in the North Caucasus region have reached one trillion rubles (approximately $11.2 billion) annually, and the value of planned projects is estimated at 1.7 trillion rubles.
Regarding the tourism potential of the North Caucasus, Novak highlighted that the resorts in the region have immense capabilities, as they offer proximity to both the sea and the mountains. He pointed out that an agreement was signed during the forum between the Kavkaz.RF company and an investor to build the "Caspian Sea Coastal Group," a new seaside resort on the shores of the Caspian Sea.
The capital of the Chechen Republic hosted the Caucasus Investment Forum from July 15 to 17, which included more than 60 events. The goal of the forum is to support the development of the federal North Caucasus regions, particularly in terms of investment attractiveness and the rapid development of the economy and social sector.