Major Growth in Chechnya's Investment Volume: 2.3x Rise in a Decade
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.
See Also
Azerbaijani Mortgage Fund Maintains' BBB-' Rating Amid Strong State Support
Armenia Awaits EU Decision on Observer Mission Extension
Chechen and Georgian Muslim Leaders Strengthen Ties in Grozny Meeting
Advisory Committee Calls for Minority Rights Reforms in Azerbaijan, While Government Pushes Back
