Chechen President Induces Saudi Businessmen to Invest in His Republic

RIYADH (RIA Novosti). President of Chechnya Akhmad Kadyrov promised Saudi businessmen that investments in the Chechen industry would bring profit.

He said this at the talks with the chairman of the Council of the Chambers of Commerce and Industry of the Kingdom of Saudi Arabia, Abdurrahman al-Jeraisy, which were attended by influential Saudi businessmen.

"Today we need support in restoring our oil industry, in restoring Chechen industry in general, and with time this will bring substantial profits to Saudi businessmen, if they make investments," Kadyrov said.

The Kingdom is interested in establishing the closest contacts with Russia and not only in profitable projects but also in restoring the economy and the social sphere of the Chechen Republic, said the head of the Saudi Council of the Chambers of Commerce and Industry.

During the talks the Saudi side showed interest in Russia’s tax policy and in the terms of taking capital in and out of the country.

The sides agreed to continue contacts on the level of working groups.

Abdurrahman al-Jeraisy pointed out that the visit to Russia by Saudi Crown Prince Abdalla had removed all obstacles in the way of establishing friendly relations between the two countries, and now it is for businessmen and the governments to lend concrete content to these relations.