ST. PETERSBURG, June 19. /TASS/. Russian Deputy Prime Minister Alexander Novak has urged Saudi business to invest in the implementation of tourism projects in Russia, including in the Far East, Kamchatka, and Baikal, according to a statement released by the Russian cabinet following Novak’s meeting with Saudi Arabia’s Energy Minister Abdulaziz bin Salman on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

"Alexander Novak urged Saudi business to invest in the implementation of tourism projects on Russian territory, including the Far East, Kamchatka, and Lake Baikal," the statement reads.

The tourist flow between Russia and Saudi Arabia soared almost five-fold in five years, the government added. "That said, last year the number of trips to Russia by Saudi Arabian citizens grew six-fold, while the number of trips to Saudi Arabia by Russians increased by 58%," the cabinet noted.

The St. Petersburg International Economic Forum (SPIEF) is taking place on June 18-21. This year, the event is held under the theme "Shared Values: The Foundation of Growth in a Multipolar World." The program includes the SME Forum, the Creative Industries Forum, the Day of the Future International Youth Economic Forum, the Drug Security Forum, and the Roscongress Urban Hub discussion platform. The Roscongress Foundation is the organizer of the St. Petersburg International Economic Forum. TASS is its information partner.