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Yakutia makes a major pitch for investment at the Annual Investment Meeting in Dubai

By The Siberian Times reporter
08 April 2014

President Yegor Borisov in high level meetings in United Arab Emirates.

Sakha, almost the size of India, is seen as one of Russia's promising regions for investment. Picture: Alrosa

Diamonds are a key focus but not the only one as the Sakha delegation highlights tourism and infrastructure as areas of potential investment. Mr Borisov said he was optimistic about trading relations between his region - known to many as Yakutia and the largest diamond producing area in the world - and the UAE.

'I think investors from the UAE will have a good opportunity to take part in investment projects such as the development of infrastructure, tourism, new technologies and the establishment of new industrial locations to produce unique jewellery products,' he said. 

He pointed to Dubai's strategic location and rapidly growing gold and diamond marketplace, forecasting: 'I expect Dubai and the UAE to grow into a diamond trading hub'.

As CPI Financial pointed out, Dubai 'has become the world trading centre of uncut diamonds, cut diamonds and diamond jewellery. It has been a remarkable journey, in 2001 Dubai's diamond trade volume did not exceed $5 million, however in less than a decade it has increased to over $39 billion'.

The Siberian republic's leader said: 'The Sakha Republic (Yakutia) will present tourism, infrastructure and innovative projects at the AIM. We will also present the International Sports Games 'Children of Asia' that is known as a preliminary step for the Youth Olympic Games.

'It is gratifying that the Games have traditionally involved a team from the United Arab Emirates. And of course, we are proud to present a famous brand - Yakutian diamonds and the world-renowned company Alrosa. By visiting our exhibition stand, you will truly enjoy diamonds'.

Sakha, almost the size of India, is seen as one of Russia's promising regions for investment.

Don't look down! One of the diamonds mining sites in Republic of Sakha (Yakutia). Picture: Alrosa

As well as attending the annual AIM session, he will meet HH Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, HH Sultan Bin Mohammed Al Qasimi, the Ruler of Sharjah and HE Sultan Bin Saeed Al Mansouri, UAE Minister of Economy. 

'The Sakha officials are scheduled to sign agreement with the Sharjah Chamber of Trade and Commerce during the Annual Investment Meeting 2014. The Alrosa Group is also scheduled to sign a contract with the Dubai Diamond Exchange (DDE). 

Sakha, almost the size of India, is seen as one of Russia's promising regions for investment. 

Comments (1)

wouldn't mind some of those diamonds!
Anne, Norway
09/04/2014 14:27
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