Kavkaz.RF has proposed making the tourist tax a targeted resource in resort SEZs.

Kavkaz.RF Executive Director Khasan Timizhev proposed concentrating tourist tax revenues with the management companies of resort special economic zones (SEZs). He made this statement at the "Tools for Improving the Efficiency of SEZ Operations" session at the Caucasus Investment Forum.

Timizhev believes this approach would be logical: since the tax is intended to promote resort development, it makes sense to direct its funds to the management company responsible for the development of the respective territory.

The expert emphasized that creating a resort is only the first stage: it must be regularly maintained and, if necessary, repaired. Targeted use of the tourist tax will help achieve these objectives more effectively.

Tourism in the North Caucasus Federal District was four times higher than the Russian average in 2025.

Last year, demand for tourist travel to the North Caucasus Federal District grew four times faster than the national average. These figures were announced at the Caucasus Investment Forum in Mineralnye Vody, where the Russian Ministry of Economic Development presented the results of tourism development in the region as part of the national project "Tourism and Hospitality." The North Caucasus Federal District welcomed 3.6 million tourists, an 8.5% increase compared to the previous year. By comparison, the national average for tourist flow was 2.2%. The highest growth rates were recorded in Chechnya (+35%), as well as North Ossetia and Karachay-Cherkessia (both +20%). In Dagestan, after adjusting for adjusted figures, growth of 11% was recorded. Regarding the winter season—from November to March—according to the ministry's latest data, the district confidently exceeded last year's target: 1.1 million trips were made, an increase of 19%. Skiing holidays were the growth driver, contributing to an 18% increase. The Ministry of Economic Development noted that the situation remains challenging in several regions of the Caucasus, but emphasized that once the situation normalizes, travel demand will quickly return to normal levels.

Speaking at the forum, Russian Minister of Economic Development Maxim Reshetnikov also spoke about the government's systematic efforts to increase hotel room capacity.

"The construction of 2,500 rooms in modular hotels has been supported—74 projects with a total funding of 3.7 billion rubles for the period 2025–2027." Another 7,500 rooms will be created under the preferential lending program: of the 40 approved projects, two hotels have already been commissioned in Stavropol Krai and one in Karachay-Cherkessia (all three are scheduled to open in 2024). Furthermore, a new cable car in Dombay is being built using the preferential loan. The quality of the rooms is also a priority. According to the minister, 1,800 accommodation facilities in the district have been classified, 70% of which are new properties that were not previously included in the register and have emerged from the shadow economy. As part of the experiment in Dagestan and Stavropol Krai, more than 1,500 rooms (183 properties) have been added to the guesthouse register. All this directly contributes to the economic recovery of the region," Reshetnikov emphasized.

The development of ski resorts was also discussed at the forum. According to the Ministry of Economic Development, this process has been significantly accelerated thanks to the special economic zones (SEZs) and the concentration of state support measures within them. Thanks to the state program Kavkaz.RF, 12 infrastructure facilities were launched last year alone: ​​ski slopes, cable cars, and snowmaking systems. This is motivating business—over 30 new residents arrived last year to build hotels, restaurants, and recreation areas. At the same time, the resorts are transitioning to Russian technology. As Maxim Reshetnikov noted, the further development of Elbrus and Arkhyz will be ensured by a completely domestic technological chain: cable cars, control systems, and lift software. Together with Kavkaz.RF, proposals are also being developed to improve tourist safety during ascents—in line with the objectives set by the President to improve the quality and safety of tourism services. They will begin with Elbrus, one of the most popular and challenging climbing points in the country. Plans include introducing control over the presence of a guide for groups, engaging rescue units, and providing medical support.

Russian Minister of Economic Development Maxim Reshetnikov stated at the forum: "The resorts of the Caucasus are transitioning to a completely Russian technological chain. We're talking about cable cars, control systems, and software for lifts on Elbrus and Arkhyz. We're also developing proposals to enhance tourist safety during ascents—we'll start with Elbrus, where we'll introduce controls to ensure groups have guides and strengthen medical support. All of this work is being carried out within the framework of the "Tourism and Hospitality" national project, which is under the personal supervision of the President.

A separate section of the presentation at the Caucasus Investment Forum was dedicated to the new art resort, Mamison. Andrey Yumshanov, CEO of Kavkaz.RF, addressed the forum participants and presented the results of the first ski season and projects by SEZ residents—concept hotels resembling an astronaut base and cottages made from Ossetian dolomite. According to Yumshanov, Mamison welcomed 100,000 people in its first season and has prepared a year-round program of activities focusing on creativity and self-development. The hotels are already fully booked for the May holidays, and summer bookings are actively underway. The head of Kavkaz.RF also emphasized that Mamison is the first major mountain project in the country to be built since the introduction of European sanctions on equipment and technology in 2022. Moreover, the resort has become a catalyst for import substitution in the country: the Russian company Ruslet, in response to requests from Kavkaz.RF and other resorts, developed the first domestically produced detachable clamp for cable cars. The development process took several years, and now all Kavkaz.RF cable cars are equipped with domestic equipment and software.

Andrey Yumshanov, CEO of Kavkaz.RF, noted in his speech at the forum: "Mamison has become the country's first major mountain project built after the introduction of European sanctions on equipment and technology in 2022. The resort has become a catalyst for import substitution in the country: the Russian company Ruslet, in response to requests from Kavkaz.RF and other resorts, developed the first domestically produced detachable clamp for cable cars. The development process took several years, and now all Kavkaz.RF cable cars are equipped with domestic equipment and software. Plans include the delivery of four cable cars to expand the ski area of ​​the legendary Elbrus, which, under the management of Kavkaz.RF, is aiming for a million-strong tourist flow, growing by 10-15% annually. All these achievements have been made possible thanks to the President's systematic support and the implementation of the national "Tourism and Hospitality" project.

Andrey Yumshanov: "Our resorts are contributing to the national goals of import substitution and technological leadership."

The CEO of Kavkaz.RF spoke at a government commission chaired by Russian Prime Minister Mikhail Mishustin.

"In recent years, a robust infrastructure of all-season tourism clusters has been developed in the district's regions—resorts such as Arkhyz, Elbrus, Dombay, and the young town of Mamison have become magnets for both tourists and investors. All these projects are strengthening the overall hospitality infrastructure of the Caucasus regions. As a result, tourists are increasingly coming to us. At the end of this year, we plan to launch ski infrastructure at Veduchi in the Chechen Republic, and the Caspian coastal resort is in the active phase of construction as part of the federal project 'Five Seas and Lake Baikal,'" said Andrey Yumshanov.

In total, over 70.5 billion rubles of budget funds have been invested in the facilities built by Kavkaz.RF, including 23.9 billion rubles of the company's own funds. Approximately 2 million tourists visited the ski resorts in 2025 alone, with declared extra-budgetary investments in hotels, restaurants, and amusement parks totaling 210 billion rubles. Private investors have already raised 29 billion rubles, over 2,200 rooms have been opened, and 1,300 jobs have been created.

"Kavkaz.RF organized the creation of the first cable car certification center and testing laboratory. We also propose establishing official testing sites for specialized equipment developed in Russia—heavy snow groomers, snowmaking systems, and avalanche control systems—at our high-altitude locations. Beyond our wishes, additional regulations are needed here, and we have begun working on this with the Ministry of Industry and Trade," noted Andrey Yumshanov.

Andrey Yumshanov presented the concept of Kavkaz.RF's new strategy at the 2026 North Caucasus Financial Forum.

Responding to the moderator's question about the role of a development institution at the business session "The North Caucasus: A Sleeping Titan for Investment – ​​How to Awaken It?", the head of Kavkaz.RF shared the main approaches to developing the company's new strategy through 2030.

Since its establishment in 2021, Kavkaz.RF has focused on increasing investment activity and strengthening financial institutions in the North Caucasus. In addition to building "heavy" infrastructure, the company was tasked with creating conditions for banks to operate in the North Caucasus Federal District by sharing risks and creating a favorable environment.

"Our role as a development institution was not only to directly finance areas deemed a priority by the state, but also to attract funds from other development institutions, banks, and businesses by creating favorable conditions in the district. One of the key indicators of our work is the stable dynamics of banks' share in the projects we support. "While it was zero in 2021, by 2025 it had reached over 35%, or 18.3 billion rubles, along with funds from project initiators. In other words, by using our own instruments, we attracted credit institutions to the projects and increased their trust in the macro-region," explained Andrey Yumshanov.

These were the fundamental principles on which the development institution was built, but over time, the North Caucasus Federal District and Russia as a whole underwent significant socioeconomic transformations, the economy changed, and turbulence arose in various sectors. In order to steadily and consistently develop the territory, Kavkaz.RF needed to adapt its activities to current realities and set new goals.

What changes are in the new strategy? The main one is the definition and systematization of particularly important tools and areas of activity. These areas are threefold: the comprehensive development of the SEZ, including work with residents, the packaging and promotion of resorts, financial and non-financial support for investment projects, and government consulting related to labor productivity and human resource development. Kavkaz.RF manages three mountain resorts at various stages of development (a fully-fledged cluster with growing tourist flow, one recently launched, and one under construction), and is also building a seaside resort on the Caspian Sea. The company's resorts currently host approximately 2 million visitors. Currently, 112 residents work there, having invested 29 billion rubles and created 1,284 jobs.

By 2030, a major round of construction is planned to be completed, ensuring the resorts operate optimally: within the special economic zones of the North Caucasus, over 160 km of ski slopes, over 35 cable cars, and 6 km of developed beaches will be operational, with over 20,000 accommodations created, and tourist flow estimated at 4.5 million people (36% of the total tourist flow in the North Caucasus Federal District).

To complete construction of the resorts for optimal operation, an additional investment of approximately 38 billion rubles is required. The company faces the challenge of revising its funding sources and increasing its profits.

"Kavkaz.RF includes several promising subsidiaries, and by improving their efficiency, we will be able to achieve significant financial results. These include Kavminkurortresursy, North Caucasus Mountain Club, KRSK-UA, and a new company, Kavkazengineering, which was presented for the first time at the KIF.

Regarding investment project support, given limited budgetary resources, we will focus our efforts primarily on breakthrough projects outlined in the Economic Development Models for the North Caucasus Federal District, approved by the Government of the Russian Federation. By 2030, we plan to support 16 breakthrough projects and projects of SEZ residents, with a total value of 42.5 billion rubles, using banking instruments," notes Andrey Yumshanov.

In addition to issuing preferential loans, Kavkaz.RF provides non-financial support to businesses. Twenty-three enterprises have already received support through various measures, including market expansion and collaboration with regional authorities, banks, and development institutions to obtain preferential loans.

A separate new area is government consulting, which includes measures to improve labor productivity in tourism companies, enhance human resource capacity, and provide business support.

According to various estimates, by 2029, the labor shortage in the tourism and recreational special economic zones in the North Caucasus Federal District will reach 14,000 people. Labor productivity in the tourism industry is 2 million rubles per person (versus 2.58 million rubles in the Russian Federation).

To address these issues, an industry competence center for tourism and an association for human resource development were established within Kavkaz.RF. The company is already participating in 13 projects to improve productivity at tourism facilities and four projects in other industries.

Furthermore, Kavkaz.RF is a strategic partner in two educational clusters and, together with Headhunter, launched a job and employee search portal.

The impact of these initiatives will be assessed against the national development goals of Russia through 2030 and through 2036, approved by the President of Russia.

"Kavkaz.RF is fully committed to addressing the region's challenges, utilizing all available resources and tools. We recognize the scale of the challenges facing the district, and while we cannot solve them alone, our contribution to improving the investment climate is crucial. We act as a link between government priorities and market mechanisms. Our mission is to facilitate the economic development of the North Caucasus and improve the quality of life. Our main strategic objective is to identify and develop growth areas that will unlock the full potential of the macroregion," concluded Andrey Yumshanov.

Kavkaz.RF and NCFU signed a roadmap for personnel training.

As part of the business program of the III Caucasus Investment Forum, a roadmap for cooperation was signed between Kavkaz.RF, the North Caucasus Federal District Development Institute, and North Caucasus Federal University. The partnership aims to combine the university's scientific potential with the corporation's practical expertise to address key issues of the region's socioeconomic growth.

On April 29, Kavkaz.RF CEO Andrey Yumshanov and NCFU Rector Professor Tatyana Shebzukhova signed the document. The roadmap developed between the development institute and the flagship federal university contains six areas.

"The partnership is deeply practical and systemic. We have developed a full-cycle training program in tourism – from skilled trades and secondary vocational education to higher education programs. We see our main goal as aligning our curricula with the real challenges facing the tourism industry. "We have already actively participated in the work of the regional Association for the Development of Human Resources in the Tourism Industry of the North Caucasus Federal District, created with the support of Kavkaz.RF," said NCFU Rector and Professor Tatyana Shebzukhova.

Joint research and expert support for projects will also be a key component of this collaboration. University researchers and specialists will be involved in evaluating investment initiatives, developing master plans for territories, including the Caucasian Mineral Waters agglomeration, and creating tourism clusters.

"The tourism industry in the North Caucasus is experiencing a boom: tourist traffic has increased 2.5-fold in five years, but a labor shortage is one of the factors hindering even more rapid growth. According to expert estimates, by 2030, the shortage of qualified tourism specialists in the North Caucasus will exceed 100,000. Of course, we cannot remain on the sidelines—the labor shortage is a pressing issue for both our resorts and our resident hoteliers and restaurateurs." "We will progressively address this challenge through systemic measures and targeted cooperation," commented Andrey Yumshanov, CEO of Kavkaz.RF.

Joint research is planned in priority areas for the district, such as the agro-industrial complex, renewable energy, and creative industries, using NCFU's laboratory facilities.

North Caucasian Federal University (NCFU) is launching a series of continuing education programs at the School of Caucasian Hospitality at the Pyatigorsk Institute of North Caucasian Federal University – for both hotel and travel company employees, as well as for those just beginning their professional careers. The roadmap includes off-site training and seminars for the business community in all regions of the North Caucasian Federal District.

The Federal University will participate in the regional Association for the Development of Human Resources in the Tourism Industry of the North Caucasian Federal District, created with the support of Kavkaz.RF. Every student studying in relevant fields at North Caucasian Federal University will have the opportunity to complete an internship or secure their first job at leading companies in the district.

One of the key social areas of the roadmap is the development of tourism-related initiatives for people with disabilities. Additional educational programs and tourism products are planned, taking into account best international practices for people with disabilities, as well as the regional characteristics and mentality of the North Caucasus.

At its stand at KIF-2026, Kavkaz.RF presented its first projects in the human resources area – the work of the Human Resources Development Association and a career portal created in collaboration with Headhunter.

Tourist traffic along the National Caucasus Trail could exceed 4 million by 2030.

By 2030, the interregional tourist route "National Caucasus Trail" could attract more than 4 million tourists. This was announced by Nikolai Goncharov, Deputy General Director of Kavkaz.RF, at the Caucasus Investment Forum (CIF-2026).

The project launched in 2023. The trail will connect the coasts of the Black and Caspian Seas, passing through all regions of the North Caucasus Federal District and the Krasnodar Krai. The total length of the route will exceed 2,000 km.

By the end of April 2026, Kavkaz.RF had already developed over 240 km of the trail. All necessary infrastructure for comfortable recreation, including navigation signs, benches, and gazebos, has been installed along these sections. The route is divided into sections of varying difficulty, suitable for both experienced hikers and those with minimal training. Plans call for the construction of approximately 60 km of new trail sections annually.

Kavkaz.RF and Rosa Khutor have agreed to cooperate to develop mountain tourism in Russia.

The all-season mountain resort Rosa Khutor and the state corporation Kavkaz.RF have announced the start of their joint work. The partnership aims to improve the management efficiency of tourism and recreational complexes, train specialists in rare mountain professions, and implement flagship domestic technological solutions in the operation of ski infrastructure. The corresponding agreement was signed at the Caucasus Investment Forum.

The document formalizes the long-term cooperation between the parties and forms the basis for joint efforts to develop all-season mountain tourism in Russia. The agreement was signed by Kavkaz.RF CEO Andrey Yumshanov and Rosa Khutor CEO Konstantin Nesterov.

The key areas of cooperation will be improving the regulatory framework and industry standards for resort operations (including taking into account environmental factors), exchanging experience in operating tourism and recreational complexes, and jointly promoting mountain tourism.

Special attention is being given to import substitution in the infrastructure of mountain resorts. This involves the development of domestic solutions for ski and engineering equipment, including their testing and implementation.

Both resorts are already implementing such projects. Specifically, at six Rosa Khutor ski lifts—Tirol, Olympia, Zapovedny Les, Volchya Skala, Quartet, and Extreme—the foreign automated control system software (ACS) has been completely replaced with Russian-made software. The domestic manufacturer Ruslet is supplying all new ski lifts and software for the Mamison and Veduchi ski resorts. Domestic snowcats are being tested for the second season on Mount Elbrus.

Konstantin Nesterov, General Director of Rosa Khutor, noted that this work will be developed systematically.

"We believe the next logical step is the formation of a unified Russian cable car management ecosystem—not just at the technology level, but across the entire lifecycle: equipment and spare parts supply, service support, technical support, and personnel training within the country," he commented. "Without trained specialists, any technology loses its effectiveness, and the ski industry is no exception."

Rosa Khutor and Kavkaz.RF have already begun work on creating a training system for specialists in rare professions in the ski industry—snowmakers, snowcat drivers, avalanche control specialists, and cable car operators—using educational institutions in the North Caucasus. Currently, there is no centralized model for training such personnel in Russia. Resorts "grow" them independently: they find people from related professions and provide years of hands-on training. The development of this area is also enshrined in the signed agreement.

"Last year, we systematically addressed the issue of training personnel for the tourism industry; personnel issues are the main concern for all our investors in the resorts. The North Caucasus Federal District Human Resources Development Association was created, and we are currently working on industry standards. In partnership with Rosa Khutor, we are entering another, narrower but no less important niche: training highly specialized specialists, the ski resort's "elite." The scale of the Sochi resort and the high-altitude experience of our Elbrus team can yield a very high synergistic effect, and the partnership will set a positive precedent in the industry," says Andrey Yumshanov.

A discussion on import substitution in the ski industry will also be held on April 30 as part of the KIF-2026. Organized by Kavkaz.RF, the speakers will include Khisa Bekkaev and Vladimir Lapukhin, heads of operations and construction at the state corporation, Konstantin Nesterov from Rosa Khutor, Dmitry Sidorovich, CEO of Ruslet, and other manufacturers of equipment, components, and gear.

Kavkaz.RF and Sber are preparing to launch a digital investment platform.

Today, at the Caucasus Investment Forum, Anatoly Pesennikov, Chairman of Sberbank's South-West Bank, and Andrey Yumshanov, CEO of Kavkaz.RF, signed a letter of intent regarding Sberbank's participation in the implementation of Kavkaz.RF's digital project, the "Investment Hub."

The project aims to create a dedicated digital platform that will facilitate increased investment activity in the regions of the North Caucasus Federal District.

Anatoly Pesennikov, Chairman of Sberbank's South-West Bank, said: "Sber always prioritizes supporting business growth, and it is important for us to offer entrepreneurs and investors relevant products and tools. In partnership with Kavkaz.RF, our Bank has already launched a number of joint investment projects aimed at improving the investment climate and developing the economy of the North Caucasus Federal District. We previously successfully implemented a preferential lending program for businesses in the Caucasus, and over the three years of its implementation, 206 loans totaling 8 billion rubles have been issued. We are currently exploring the Bank's participation in the implementation of a digital platform developed by Kavkaz.RF. This platform will facilitate interaction between project initiators, representatives of participating banks, and Russian development institutions, and will also enable the business community and financial institutions to more efficiently process loan transactions.

Andrey Yumshanov, CEO of Kavkaz.RF: "Kavkaz.RF and Sber have been successfully collaborating for several years, implementing projects in various sectors and industries. Together, we help entrepreneurs in the North Caucasus Federal District launch and grow their businesses. It is widely known that our country is ahead of the rest of the world in the implementation of digital services, and our goal is to work with banks to create a convenient electronic tool that will help them obtain government support with minimal effort. This will free up entrepreneurs' time for visionary thinking, launching new businesses in the Caucasus, and creating a comfortable business environment. The digital platform will unite entrepreneurs and credit institutions and will also accumulate information on investment projects launched and planned for the Caucasus."

Three more North Caucasus Federal District manufacturers have received the "Product of the Caucasus" certificate.

The award ceremony took place on the first, entrepreneurial day of the Caucasus Investment Forum. The Kavkaz.RF Development Institute, together with Roskachestvo, awarded "Product of the Caucasus" certificates to three local manufacturers.

"Product of the Caucasus" is a joint project between Kavkaz.RF and Roskachestvo, which has been implemented since 2023. The system involves labeling products with a special symbol to promote the production region, adding registered manufacturers to a special registry, and providing a number of preferences.

"We have developed and registered a voluntary certification system aimed at promoting products from North Caucasus Federal District manufacturers in both domestic and foreign markets, as well as increasing consumer confidence in our products. Key preferences include the possibility of parallel product certification according to halal, organic, and green standards. "Furthermore, this mark provides priority conditions for receiving the Russian Quality Mark and the Russian Government Quality Award," said Andrey Tsemakhovich, Deputy General Director of Kavkaz.RF.

This year, certificates were awarded to enterprises in three regions of the North Caucasus Federal District: Stavropol Krai, the Chechen Republic, and North Ossetia. In Chechnya, the quality mark was awarded to Kolos LLC. They produce and sell high-quality products for the flour and cereal industries. In Stavropol Krai, the certificate was awarded to Dmitry Vladimirovich Zyryanov, an individual entrepreneur. The owner of the Kavkaz Forma factory produces uniforms, clothing, and related equipment. North Ossetia was represented by TSEKH LLC. The craftsmen produce cabinet and upholstered furniture for the HoReCa segment, hotels, and restaurants.

"We see from consumer feedback that our products are truly gaining trust." Between 45 and 67 percent of respondents rated the impact of this label on their products positively. "And therefore, today we are opening the door to a new stage of creative work for these manufacturers—a stage when they can proudly say that their products are made in the Caucasus," said Elena Saratseva, Deputy Head of Roskachestvo, at the certificate presentation ceremony.

Since the inception of this mechanism, manufacturers from the North Caucasus have received 86 certificates. The certification covers a variety of industries, from mineral water production to furniture. The "Products of the Caucasus" system aims to increase the recognition of products from the Caucasus, facilitate the development of local businesses, their entry into the national market, and strengthen consumer confidence.

The CEO of Kavkaz.RF gave an interview to TASS at the 2026 KIF.

Andrey Yumshanov spoke to journalists at the 2026 KIF about the company's recent activities.

Kavkaz.RF's partner, Ruslet, launched a cable car manufacturing plant in the Tver Region, with 100% local content. The new cable cars on Elbrus, scheduled for commissioning in 2029, will be entirely Russian-made, from the metal structures to the software. Domestic equipment is already in operation at Mamison and Veduchi.

Together with Sber, Kavkaz.RF is launching a platform where the company will help meet bank requirements, resolve administrative and financial issues, and, if necessary, pool funds to ensure affordable loan terms.

Kavkaz.RF intends to collaborate with Rosa Khutor to train personnel and shape industry standards. Training will be provided at North Caucasus Federal University and technical schools in North Ossetia for all mountain resorts in the country. Together with hh.ru, the North Caucasus Federal District Human Resources Development Association is launching a job exchange, featuring analytics on industries and locations where the Caucasus region most needs specialists.

Furthermore, Kavkaz.RF has developed a concept for an all-season resort near Lake Ritsa, Gagra, and Pitsunda. As Andrey Yumshanov noted, any resort changes the surrounding area: it creates jobs and revitalizes the economy, and the Abkhazian project is designed precisely with this in mind. Plans include up to 100 km of pistes; there are currently no resorts of this scale in the Caucasus. The Republic of Abkhazia brought the concept to the KIF.

In partnership with Sberbank, Kavkaz.RF supported 202 small and medium-sized business projects: retail, services, small hotels, farms, and local production.

According to Andrey Yumshanov, each resort should have its own unique identity. At Mamison, this identity is shaped through art. Last year's art festival drew an unexpectedly large crowd. In June, the resort will open a contemporary art exhibition.

The Caspian region is currently undergoing active construction: roads, a service center, and landscaping. Sixteen residents have joined the project. In the Elbrus region, the team is collecting Soviet heritage—mountaineering, poetry, music—everything the mountain inspired in the 20th century and continues to inspire today. A large museum is also preparing to open.

Filming for another film project, "Epiphany," has concluded in the Elbrus region.

The team explored mountain tourism as a vibrant interweaving of people and meanings: riders with their passion for skiing, scientists with their meticulous attention to detail, and local residents with their boundless love for the place where they grew up.

During 17 days of filming, dozens of spectacular rides were captured, along with ice climbing lessons and overnight stays at a glaciology camp at 2,700 meters. Conversations with legendary veterans about how they've observed changes in Elbrus glaciers throughout their lives (30-40 years) and, concurrently, the changing culture of tourism were also captured.

The film will show how mindful mountaineering and tourism are becoming part of the region's cultural identity.

Editing is scheduled to be completed by the end of summer. Screenings will follow at festivals, in tourist clubs, at the resort, and online.

Kavkaz.RF has begun construction of roads in the Caspian Coastal Cluster.

The roadway is 15 kilometers long. It includes four main streets parallel to the coastline and seventeen local streets perpendicular to the coast. This will ensure comfortable travel for tourists across the resort's vast territory.

LED lighting, road signs, and pedestrian crossings will be installed along the roads. The project will include 28 public transportation stops, and two entry checkpoints to the resort are also planned.

Particular attention is paid to rainwater collection. The rainwater collection system consists of sections of gravity pipelines from storm water inlets to main collectors located outside the roadway.

The project calls for the use of a special type of asphalt – stone mastic asphalt. This surface will allow the road to withstand sudden temperature changes, moisture, and heavy loads.

"Currently, construction workers are constructing the roadbed and the utility camp. Work is also underway to dismantle old utility lines and relocate them outside the development zone. We plan to complete the main phase of road construction in the fall of 2027. This is an important stage in the construction of the entire Caspian Coastal Cluster, as the presence of roads along the entire coastline of the future resort will accelerate the development of the entire project. Construction of a four-story service center is currently underway. Residents of the SEZ also plan to begin construction this fall. We expect to open the first resort facilities in 2027," explains Vladimir Lapukhin, Deputy General Director of Kavkaz.RF.

The Caspian Coastal Cluster is providing a powerful boost to Dagestan's investment attractiveness. Already at this stage of the project, 25 investment agreements have been signed. The total announced investment volume is 112 billion rubles. Of these, 16 are resident agreements for 18 projects, with a total investment volume of over 60 billion rubles. Five investment projects have received approval from the Russian Ministry of Economic Development for subsidized loans. The total amount of subsidized loans is approximately 16.5 billion rubles.

The project is being implemented as part of the federal project "Five Seas and Lake Baikal" of the presidential national project "Tourism and Hospitality." Construction supervision is carried out by the Federal Autonomous Institution "Roskapstroy," which is subordinate to the Russian Ministry of Construction.

Kavkaz.RF Events at KIF-2026

Young Entrepreneurs Day will be held on April 28. On this day, the Kavkaz.RF stand will host a presentation of the upcoming entrepreneurship intensive course from Rosmolodezh, which will take place this fall at the Mamison mountain resort in North Ossetia. Deputy General Director Rustam Tapayev will be the speaker representing Kavkaz.RF.

The stand will also feature a presentation of a career portal (a joint project of Kavkaz.RF and Headhunter), which helps find your dream job in the North Caucasus.

Key events from the "government-business" series are scheduled for April 29, including the session "Dialogue with the Governor: Focus on the Caucasus," where the heads of seven constituent entities of the North Caucasus Federal District will present their region's priority socio-economic projects.

At the Kavkaz.RF stand, Vladimir Lapukhin, Deputy General Director for Infrastructure Development, will present the company's upcoming construction projects.

On the same day, a session will be held on improving the efficiency of special economic zone (SEZ) management, with the participation of key residents, such as Sfera Group, which is preparing to begin construction on its first hotels in the Caspian cluster this fall.

On April 30, a meeting of the Government Commission on the Development of the North Caucasus Federal District and Regions as a Whole will be held, chaired by Russian Prime Minister Mikhail Mishustin. Andrey Yumshanov, CEO of Kavkaz.RF, will be one of the speakers.

On the final day of the forum, the main discussion on attracting investment to the North Caucasus will take place, featuring Deputy Minister Sergey Nazarov and Chairman of Sberbank's Southwestern Branch, Anatoly Pesennikov.

During the day, dialogues will be held on import substitution in mountain resorts and the creative economy. Participants include Khisa Bekkaev from Kavkaz.RF, Dmitry Sidorovich from Ruslet, Sergey Shunin from Sinara - City Machines, and others. The session will be moderated by Svetlana Danilina, Head of the Association of Ski Resorts, Territories, and Services.

At the creative discussion "Craftsmen or Creators," experts will discuss projects that are currently changing the perception of the North Caucasus, working with tradition, heritage, and contemporary art.

Speakers invited by Kavkaz.RF include Alexandra Fedorova, founder of the "New Russian Cultural Code" channel; Galina Tebieva, Director of the Tuganov Art Museum; Murad Gadzhiyakhyaev, Head of the Kubachi Art Combine; Kermen Mandzhieva, Opinion Leader; Oksana Shukhostanova, Director of the Nalchik Platform Center; and others.

Anastasia Zolotukhina, Director of the relevant department of the Russian Ministry of Economic Development, will provide feedback on projects and forms of state support for creative industries.

The Kavkaz.RF stand at the KIF will creatively reimagine the infrastructure of the Mamison resort.

The plywood art pieces on the large mountain range will feature not only artifacts from the Mamison Gorge but also domestically produced cable car equipment, including the country's first detachable clamp, a control and automation cabinet, and software from the Ruslet company. The stand was developed by a team of contemporary artists from the newnow association, whose main goal was to connect industrial development and natural beauty through art.

"People come to the mountains hoping to escape the digital world. That's why we're prioritizing 'physics' in our exhibition—ammonites from Elbrus, sand and shells from the Caspian Sea. Even the texts are printed simply on plywood, so nothing distracts from the essence. We'll invite visitors to listen to Mamison's voices, recorded during a research expedition to the ancient village of Lisri, and also to create their own summer route calendar." On the mornings of April 28th and 29th, we'll be organizing a mediation session for the exhibition and booth for KIF participants. Its goal is to help them look at investment projects and the region's economic development holistically and from a new perspective," explains Tatyana Baeva, Communications Director at Kavkaz.RF.

Investors will also have plenty to do at the booth: Kavkaz.RF's own lecture hall will host presentations of new products from the team—the construction company Kavkaz-Engineering, the Association for the Development of Human Resources of the North Caucasus Federal District, the career portal, the Certification Center for Cable Car Systems, and the investment hub. Participants will also be able to learn about the main ideas of Kavkaz.RF's new strategy through 2030, which is currently in the final stages of development.

"Kavkaz.RF isn't an exhibition in the traditional sense. There's no time for prolonged contemplation; it's a space for quick reading. And yet, within it, a complex story must be told: about the location, the infrastructure, the resort, and the cultural layers." And here the challenge arose: how to capture the sense of Mamison's multilayered nature within a very organic, physical space. We quickly realized that a linear narrative wouldn't work, so we began thinking spatially. We presented the pavilion not as a stand, but as a fragment of the landscape. Not an illustration of mountains, not a decorative reference, but a structure you can enter. And the key metaphor here is a gorge, where you can't see everything at once, where the image is constantly fragmented, and there's no way to anticipate the final picture until you've completed the route. This is the main idea: the viewer becomes not an observer, but a participant in the movement," explain Margo Makarova and Ulya Savich, artists from the newnow group, the authors of the concept.

The Caucasus Investment Forum will be held from April 28 to 30 in Mineralnye Vody. Kavkaz.RF has been the event's general partner since its inception. The Development Institute is organizing five discussion sessions dedicated to the company's key areas of expertise: mountain resort construction and import substitution, development of special economic zones, personnel training and labor productivity, attracting investment, and working with creative industries.

In addition, agreements are planned for joint personnel training with the Rosa Khutor resort, cooperation with Headhunter, and the joint development of an investment hub with several banks operating in the North Caucasus Federal District.

Sports Minister Mikhail Degtyarev met in Moscow with the Executive Director of Kavkaz.RF, Hasan Timizhev, and Deputy General Director, Khisa Bekkaev.

The discussion focused on the construction of two cable cars with double chairlifts on the glacier, reaching an altitude of 4,100 meters, a snow park, a cross park, and a mogul training complex.

This is a technically challenging project, as the construction season at such altitudes lasts only a couple of months a year. Furthermore, cracks on the glacier itself must first be sealed. Despite this, work on the project has already begun.

Rosa Khutor and Kavkaz.rf will join forces to train unique specialists for the country's ski industry.

The all-season Rosa Khutor resort and the state corporation Kavkaz.rf are beginning to develop a concept for a training system for specialists in rare mountain professions—avalanche experts, snowmakers, and snowcat drivers—using educational institutions in the North Caucasus. These specialists are not currently trained in Russia. The joint work was launched with a visit by a Kavkaz.rf delegation to Rosa Khutor to learn about the resort's operating model, management, and HR approaches.

The Kavkaz.rf delegation, which arrived in Sochi, included 25 specialists in operations, information technology, marketing, and finance, as well as representatives of top management. Over the course of the week, the guests worked with Rosa Khutor's specialized teams and learned about the resort's infrastructure, including cable cars, snow groomers, rescue services, snowmaking and avalanche safety systems, and ski services.

Rosa Khutor presented its management and digital solutions to its colleagues: approaches to managing tourist flows, event management, promotion, improving the regulatory framework, and the specifics of tourism development in specially protected natural areas. Special attention was paid to digital technologies and the use of artificial intelligence in the resort's operations—in particular, the cable car occupancy forecasting system developed by Rosa Khutor's Digital Development Department. It predicts occupancy with an accuracy of up to 85%, helping to optimally manage guest flows and improve service quality.

"I see great potential in our collaboration—it not only helps our teams see things from a different perspective but also shapes the culture of the country's ski industry as a whole." "Rosa Khutor" is a leader in terms of scale and number of tourists. Our Elbrus is unique in terms of the altitude at which we build and operate, its cultural heritage, and we are actively building ski resorts from scratch, such as Mamison and Veduchi. The team's internship at Rosa Khutor is part of Kavkaz.RF's larger program to develop specialists and motivate the team; without sharing experience, there will be no growth," noted Kavkaz.RF CEO Andrey Yumshanov.

Staff training is a separate focus. In winter, 5,000-6,000 skiers and snowboarders ski daily on the Rosa Khutor slopes, and 3,000-5,000 on Elbrus. Riders' comfort and safety are ensured by professionals in rare mountain specialties—avalanche specialists, rescuers, meteorologists, snowmakers, ski slope workers, snow groomers (snow groomers), and cable car operators. Russia currently lacks a specialized training system for the ski industry. Professionals are painstakingly selected from related fields and undergo extensive training within resorts. For example, training a snowmaking specialist capable of working effectively at a resort requires an average of two years of on-site training. Such a specialist must be well-versed in hydraulics, pneumatics, automation, relay circuits, and motors, and be able to perform mechanical work of any complexity.

Konstantin Nesterov, General Director of the Rosa Khutor resort, explained that, together with the Kavkaz.RF team, the first practical steps have been taken toward developing a systematic approach to training personnel for the industry.

"A list of specialized educational institutions in the North Caucasus regions, including North Ossetia, Nalchik, Novocherkassk, and other areas where training mechanics and mechanics is underway is being prepared. These training programs can be used to train snowmakers, snow grooming machine operators, and cable car operators." At the end of April, the heads of these educational institutions will be invited to participate in the Caucasus Investment Forum. As part of its business program, Rosa Khutor and Kavkaz.RF plan to hold an interactive meeting dedicated to adapting educational programs to the current needs of the ski industry. "Further plans include developing programs to train specialists in rare mountain professions, with opportunities for internships at resorts and apprenticeship agreements," commented Konstantin Nesterov.

Following the visit of Kavkaz.RF representatives to the Rosa Khutor resort, an agreement was reached on regular contacts and further exchange of experience. The parties are confident that such cooperation will contribute to the development of the mountain tourism industry in Russia.

Kavkaz.RF's experience in creating tourist SEZs is in demand in Abkhazia.

The "Abkhazia: Investments in the Future" economic forum is taking place against the backdrop of active development of Russian-Abkhaz relations and the implementation of joint investment projects. The forum was opened by Abkhazian President Badra Gunba, First Deputy Chief of Staff of the Russian Presidential Administration Sergei Kiriyenko, and Russian Minister of Economic Development Maxim Reshetnikov.

The Kavkaz.RF delegation, led by Andrey Yumshanov, presented the state's work in developing the territories of the North Caucasus.

The CEO of Kavkaz.RF spoke about state support measures and the work being carried out in the North Caucasus Federal District jointly with the Russian Ministry of Economic Development, which has enabled the district to grow in key socio-economic indicators: "Investments in fixed capital have increased by 77%, gross regional product by 32%, and unemployment has almost halved. And all this in just five years!" We are ready to share our experience and participate in joint projects to help improve the investment environment in neighboring territories."

Khasan Timizhev, Executive Director of Kavkaz.RF, shared his experience of how tourism influences the region's economic development: "These aren't just new facilities—they are new jobs, new small businesses, increased incomes, population growth, and social well-being. And we are ready to provide Abkhazia with all the necessary assistance in addressing its most ambitious tourism infrastructure development goals."

In his response, Astamur Logua, moderator of the roundtable and Minister of Tourism of Abkhazia, praised the professionalism of the Kavkaz.RF team and expressed hope for further collaboration: "I hope we will implement many interesting projects together. It's very gratifying to see what you've already accomplished in the North Caucasus. We're very close here, but we need to get even closer."

Russia and Abkhazia are launching a new stage in developing investment infrastructure.

A roundtable discussion entitled "The Role of the State in Supporting Investment Activity" was held in Sukhumi as part of the International Economic Forum "Abkhazia – Investments in the Future."

Representatives of the government of the Republic of Abkhazia and the Russian Federation, development institutions, the banking and business communities, and potential investors participated in the discussion.

The Russian side was represented by Deputy Minister of Economic Development of the Russian Federation Sergey Nazarov and General Director of Kavkaz.RF Andrey Yumshanov.

The key topic of the discussion was mechanisms aimed at creating conditions for increasing investment activity and launching new projects.

Sergey Nazarov noted that in recent years, joint work between Russia and Abkhazia has helped lay the foundation for the republic's further development. Social projects have been implemented, and transport and engineering infrastructure have been modernized.

"Today, Abkhazia has all the prerequisites for sustainable economic growth, including positive dynamics in key indicators and strong investor interest." The key task is not only to expand support measures, but to create clear and equal conditions for doing business. It's important to ensure transparent rules so that such measures can truly work and create incentives for long-term investment. This will help create a sustainable investment model and unlock the republic's economic potential, Sergei Nazarov emphasized.