In 2022, Chechnya saw an investment volume of RUB 119.5 billion [EUR 1.34 billion] in fixed capital. This represents a significant increase of 2.3 times compared to a decade ago. This information was disclosed on June 8 by the press service of the North Caucasus Joint Stock Company "Kavkaz.RF", a united management institute.

"Together with the Ministry of Economic Development and the regional authorities' support, we are building the Veduchi mountain resort, a potential growth point for the region. The resort is already actively attracting local businesses. Residents of the SEZ are actively creating new accommodation places today - a chalet with a capacity of 85 people will be opened by the end of the year. Next year a hotel complex with 800 beds will receive its first guests," Yumshanov added.

"In 2024, we plan to multiply the number of cable cars and pistes in the resort and create a full-fledged skiing and recreation area," he said.