Along with successful local businessmen, international businessmen are showing interest in investing in Dagestan. At a recent International
Economic Forum which took place in St. Petersburg, France and Austria showed interest in tourist projects in Dagestan. The republic signed agreements with the Federal Network Company for a number of investment projects and the creation of the Energy College in the town of
Kaspiisk, as well as agreements with the corporations "Renova" and "Rusnano" on the construction of a solar power station in the republic.
However, many investment projects awaiting Dagestan are still hindered by certain obstacles. "At a time when the authorities are working to create a competitive economy, the militants are trying to prevent this, intimidate the population, local authorities and businesses and to monitor cash distribution," Magomedov said.
It is a vicious circle - the investment projects are not implemented because of the problems of terrorism, while the militants are hindering the economic development which would help to solve the social problems.
To bring the volume of fixed assets per capita up to the average level the economy of Dagestan is in need of investments worth more than 1.2 trillion rubles. If we are talking about modern high-tech industries, this amount can be raised significantly. The Dagestani business community cannot solve this problem on its own. It needs serious help from the federal government. The republic can overcome the accumulated backlog only with the help of state programs, in particular through the implementation of the strategy for the socio-economic development of the North Caucasus Federal District until 2025 and related federal and republican purpose programs.
Musa Musaev, exclusively to VK
