English language Web site on current affairs in the biggest russian region
09:57 | Jun 10 | 2014

Emirates Investment Authority and Yakutia signed Memorandum of Understanding

 'Yegor Borisov pays a lot of attention on attracting direct foreign investment to the Sakha Republic (Yakutia). Thus, today the Sakha Republic (Yakutia), participating in the business mission of Russia-United Arab Emirates, have signed a Memorandum of Understanding between the Investment Agency of the Sakha Republic (Yakutia) and the Investment Authority of Dubai,' - commented Igor Slyunyaev, Minister of Regional Development of the Russian Federation, after the signing ceremony in Moscow.

The Minister noted that the business relations between Russia and the UAE are enhancing. 'I am glad that the delegation of the Sakha Republic (Yakutia) took part in the April forum in the United Arab Emirates, which brought together representatives of over 100 countries. This communication continued in Moscow. The Memorandum is a protocol of intentions, an effort to consider our opportunities and define priorities for future cooperation. It is most important that this should be followed by specific investments, projects, businesses and jobs. We will do everything to facilitate this both at the federal and regional levels,'- said the Minister for Regional Development of Russia.

The delegation of the Sakha Republic (Yakutia) at the Russia-Emirates Business Forum was headed by Alexei Struchkov, First Deputy Prime Minister, Permanent Representative of the Sakha Republic (Yakutia) to the President of the Russian Federation. Summarizing the first business meetings, the permanent representative of the republic expressed his confidence in the implementation of many investment projects on the territory of Yakutia. 'The Memorandum signed today is a logical cosequence of implementing the agreements that were reached by Yegor Borisov during the International Economic Forum in Dubai. The Sakha Republic (Yakutia) is interested in the latest technologies and practices of Arab companies in the areas of energy, construction and processing of hydrocarbons. This is particularly relevant in connection with the long-term gas contract between Russia and China, the starting construction of Power of Siberia pipeline, the completion of the ESPO line. As for the UAE, the Sakha Republic (Yakutia) is attractive in terms of investment in the real estate and construction sector,' - said the first Deputy Prime Minister of the republic. 'Sultan bin Saeed Al Mansouri, the Minister of Economy of the United Arab Emirates, said in a private conversation that, thanks to the active participation of the delegation of the Sakha Republic (Yakutia) at the International Economic Forum in Dubai, the government and business circles of UAE today are well aware of Yakutia. The Arab partners are interested in the Sakha Republic (Yakutia) as a region with a favorable investment climate and good economic potential.'

The Memorandum will serve a firm basis for developing and strengthening of the Sakha-Arab long-term relationships.

The Business Forum was organized by the Russian-Arab Business Council and the Ministry of Economy of the United Arab Emirates with the support of the Ministry of Economic Development, the Ministry of Foreign Affairs of the Russian Federation and the Chamber of Commerce of the Russian Federation.