A quarter of all concessional loans for small and medium-sized businesses in Russia are issued for tourism projects

Russia is ready to strengthen investment ties. This was stated by the Minister of Economic Development of Russia Maxim Reshetnikov on Wednesday at the plenary session of the IV Russian Tourism Forum "Travel!". "In addition to receiving tourists, we are glad to see foreign business here," Reshetnikov stressed.

"Indeed, niches have opened up in Russia with the departure of Western hotel chains. Our friends from Arab countries, from the East, those who know how to manage hotel chains, come in. It is important for us that there is competition and that high standards of service are maintained. Of course, we are happy to invest in our tourism sector, so we urge everyone to actively consider the opportunities that we have. Together with colleagues from development institutes, we have compiled a list of the most attractive facilities in Russia that will be of interest to foreign investors. We will share it with all our friends and partners in the near future," the minister said.

In his speech, Reshetnikov recalled that among the measures of state support for the tourism industry are preferential loans for the creation of new large hotels, as well as points of major investment projects — ski resorts, year—round amusement parks, water parks. At the same time, not only the measures of the national project "Tourism and the Hospitality Industry" work for the development of tourism, but also other measures of state support.

He said that a quarter of all concessional loans for small and medium-sized businesses are issued for tourism projects. In addition, the activities of development institutions — Tourism corporations - are aimed at the development of tourism infrastructure. Russia and the Caucasus. Russia. In particular, the Caucasus. The Russian Federation manages 60% of the tourist special economic zones in the country, is engaged in the construction of infrastructure in difficult mountainous areas and "cultivates" full-cycle investment projects, Reshetnikov added.

The Minister also focused on measures to attract foreign tourists to Russia. In particular, this year the agency launched a program to promote tourist products in foreign markets. Mechanisms for the provision of electronic visas and visa-free tourist exchanges with China and Iran are working. A similar agreement is planned to be concluded with India this year. Negotiations on the complete abolition of visas are underway with Saudi Arabia, Bahrain, Kuwait, Oman, Malaysia, and Myanmar. A number of agreements are planned to be signed before the end of this year.

The IV Russian Travel Forum "Travel!" is being held from June 12 to 16, 2024. It is expected that over 500,000 guests, including representatives of more than 20 foreign countries, will visit the site during the five days of the forum. The exhibition will include more than 500 exhibitors from 89 regions of Russia.