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Development of Caspian ports to attract Iranian investors to Russia’s North Caucasus

August 24, 22:32 UTC+3 CHERKESSK

The strategy for the development of Russian seaports in the Caspian Sea and railroad and car links to them until 2030 was submitted for the government’s consideration in July

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CHERKESSK, August 24. /TASS/. The development of Russia’s seaports in the Caspian Sea will attract investors from Iran to the regions of the North Caucasus, adviser to the head of the North Caucasus Development Corporation (NCDC) Nurali Rezvanov said Thursday.

"Iranian investors will be coming to the region as Caspian ports are developed and trade relations with Iran and Middle Eastern countries are deepened," he said, adding that there are many joint Russian-Iranian enterprises in Russia’s Astrakhan Region demonstrating the trend. "China is also taking interest in the direction as the Silk Road is development," he said.

According to Rezvanov, it takes time and effort to get investors involved. "It is necessary to bring investors and convince them. Still, it is a fact that the foreign business is interested. I also think it is necessary to engage local (investors) as well," he said.

The strategy for the development of Russian seaports in the Caspian Sea and railroad and car links to them until 2030 was submitted for the government’s consideration in July 2017. The project will be implemented after a respective road map is developed and adopted.

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