Investors from the United Arab Emirates are showing interest in tourism projects of the North Caucasus, Rossiyskaya Gazeta reports.
The Trade and Industry Chamber organized a forum on Russian-UAE cooperation. The sides signed a memorandum on forming major funds of the emirates for investments. St. Petersburg will host a forum, Dmitry Kurochkin, Director of the Investment Department of the chamber, said. Nikolai Aslanov, Secretary of the Russian-UAE intergovernmental commission, noted that the sides signed an agreement on lifting double taxation in December 2011. It is yet to be ratified.
