Sharjah forum targets Russia investors
Sharjah, November 27, 2012
Russian investors and businesses will meet their GCC counterparts on a single platform at a trade event in Sharjah next month.
The Russia-GCC Business Forum, from December 17 to 19, will aim to showcase participants’ potential by providing them with best exposure and enhanced visibility to prospective partners who will include institutional investors, private financiers, government officials, project promoters and business owners, said a statement.
The forum will have a packed three-day schedule and see the who’s who of GCC and Russian business in attendance, it said.
“We are offering a win-win situation for both the parties with the business forum. What Russian businesses and investors can expect in the GCC is a fast-growing economy that is following an expansive fiscal policy, offering an assortment of investment opportunities and joint venture avenues, while strengthening partnership with a BRICS nation would be a strategic move for Gulf investors,” said Saif Mohammed Al Midfa, director-general, Expo Centre Sharjah.
In recent past, while big-ticket Russia-GCC joint ventures were mostly in oil & gas, port, real estate and financial sectors, bilateral trade has been flourishing in precious and semi-precious stones and metals, base metals, vehicles, aircraft, vessels, transport equipment, machinery, and electrical & electronics equipment.
“A prominent member of the BRICS group, Russia has the world's ninth largest economy, and has an abundance of natural gas, oil, coal and precious metals. Russia will be a very attractive market for Gulf investors and firms with skills and experience in hospitality, property, aviation and infrastructure development,” said Midfa.
Russians too have found the GCC market attractive and have remained one of the main investors into the region. In the UAE itself, they have invested over $600 million into real estate and are now in fifth place in the world in terms of investments, according to the Russian Embassy figures, he said.
The sessions at the forum will cover sectors such as banking & finance, carbon management & trading, construction, corporate services, free trade & industrial zones, infrastructure, IT, logistics, manufacturing, mining, petrochemicals, real estate & property development, telecommunications, tourism & hospitality and transportation infrastructure. -TradeArabia News Service