Large Chinese companies are ready to invest in Russian tourism

Large private companies of China are ready to invest in tourist infrastructure development in Russia and build up cooperation with Russian partners, said heads of Dalian Wanda Group and China Oceanwide Holdings Group at a press conference which took place at RIA Novosti press center and marked the end of the businessmen's visit to Russia.

The delegation visited Sochi, Irkutsk, the Northern Caucasus and made a conclusion that Russia has a wide tourist market and a good potential to attract foreign investors. According to Ivan Vvedensky, Chairman of World Without Borders non-commercial partnership, who also took part in the press conference, initial investment agreements have already been made. The Chinese businessmen are ready to invest about 600 million USD into several projects which are ready to get started. In near future the amount of investment may reach 2-3 billion USD, and if the projects run effectively, more investment will come – not only into tourism but also in other industries.

According to Bo He, Dalian Wanda Group vice-president, now it is high time to enter Russian tourist market which is not yet saturated. Mr. Bo He thinks that competition between world investors will not occur because the market is large enough for everyone. 

Mr. Jixin Ci,  China Oceanwide Holding Group vice-presidentб claims that his company is considering investing into several regions. North Caucasus has good perspectives for Chinese investors, but time is needed to study it better.

In turn, deputy head of the Russia Federal Agency for Tourism Eugeny Pisarevsky stressed that at the moment Siberia-North China Investment Cooperation Group is considering 6 joint projects. He expressed hope that the number of such projects and invesment inflow will continue growing.