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Russia may attract investors in UAE for implementing transport projects

April 01, 2015, 20:44 UTC+3 ABU DHABI
Considering Russian transport potential, there is interest in attracting local investors and even Arab asset management companies, Russian Deputy Minister of Economic Development says
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© EPA/ALI HAIDER

ABU DHABI, April 1. /TASS/. Russia may attract investors in the United Arab Emirates for implementing its transport projects, Russian Deputy Minister of Economic Development Alexander Tsybulsky said, commenting on the results of the Russian government delegation’s participation in the annual investment congress in Dubai.

"For Russia, of special interest are transport projects," Tsybulsky said, noting that "the United Arab Emirates "had a wealth of experience in turning airports and ports into points of economic growth. Considering our transport potential, we are interested in attracting local investors and, possibly, even Arab asset management companies to developing this sector."

Speaking about the promising projects, Tsybulsky pointed to the "construction of a large grain hub for production distribution in the Middle East." "The possible location options for this facility are under discussion now," he added. "It could be located in Emirates, Egypt or other countries in the region."

According to the Russian official, a package of projects for subsequent implementation is being formed now.

"We also discussed the issue of food security and interaction between Russia and the United Arab Emirates on the international food market," Tsybulsky said. "Russia is one of the world’s largest agricultural producers, and the interest of Arab countries is obvious. Foreign investment in processing agricultural products on Russia’s territory is an important area of bilateral cooperation."

"At the same time, the two sides are contemplating the amendments to the legislation on special economic zones, which would allow to grant certain benefits to big foreign investors," he added.

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