Rustam Minnikhanov: We look forward to working with Mubadala Development Company
We place great significance on the development of relations between the Republic of Tatarstan and the United Arab Emirates, within the framework of a broader Russian-United Arab Emirates relationship, said President of Tatarstan Rustam Minnikhanov, speaking during a meeting with a delegation from Mubadala Development Company, the Abu Dhabi Government owned investment company (United Arab Emirates) and General Director of Russian Direct Investment Fund (RDIF) Kirill Dmitriev.
The meeting took place in the Governor's Palace, the Kazan Kremlin.
"We are honored to be welcoming representatives from Mubadala, it gives us an opportunity to talk about the projects that are being implemented today in Tatarstan,” said Rustam Minnikhanov. “United Arab Emirates is one of the most attractive partners for us in terms of developing our external economic relations."
According to Rustam Minnikhanov, Tatarstan is learning a lot from the United Arab Emirates. "You have great investment experience, your country has a strong, prosperous economy. We are very pleased that a dynamic relationship is developing between Russia and UAE,” he noted. “Today it is important to find common ground, identify opportunities for possible cooperation with Mubadala.”
President of Tatarstan then briefed the guests on a socio-economic development of the region, emphasizing the fact that the oil industry is the foundation of the economy. Tatarstan is an oil republic, he said, with annual production volumes reaching about 34 million tons, and more than a half of that amount is processed at the country’s two existing plants.
Other industries, such as petrochemicals, machinery, aircraft and helicopter manufacturing are also well developed. Tatarstan exports half of its industrial output, added Rustam Minnikhanov. It is also self-sufficient in agro-industrial sector and agriculture.
Rustam Minnikhanov invited the Mubadala representatives to participate in the annual Kazan International Economic Summit, Kazansummit, organized in the spring. He noted that this event, among others, contributes to the development and strengthening of the Russian relations with Islamic countries.
“We look forward to working with Mubadala”, said the President of Tatarstan.
During the meeting, General Director of RDIF Kirill Dmitriev noted that Tatarstan is a region with good investment climate.
“Tatarstan is the first region after Moscow we have visited with Mubadala representatives,” said Kirill Dmitrievh. He expressed gratitude to Rustam Minnikhanov for his contribution to establishing business relations with Islamic countries, including the United Arab Emirates.
During the visit of the Mubadala delegation to Tatarstan, the guests will be shown the most interesting investment projects currently being implemented in the country. The guests will learn about an innovative town Innopolis, two special economic zones, Alabuga Special Economic Zone and Innopolis Special Economic Zone, as well as "Kazan Expo" construction projects and others.