Elbrus and Mamison won the national "Mountains of Russia - 2025" award.

Resorts managed by Kavkaz.RF were recognized among the country's best ski resorts. Ossetian Mamison received the special "Discovery of the Year" prize for its most notable launch. The legendary Elbrus in Kabardino-Balkaria once again topped the ranking of resorts in the North Caucasus Federal District, handing over its title of "Best Ski Resort in Russia" to Arkhyz, built by Kavkaz.RF in Karachay-Cherkessia.

Kavkaz.RF CEO Andrey Yumshanov personally presented the "Best Ski Resort in Russia" trophy to Arkhyz CEO Roman Kiranchuk.

"The awards our resorts have received are the choice of our guests, and therefore confirmation that we are moving in the right direction. The public recognition for the opening of Mamison is especially valuable." "Elbrus is already a well-established resort, known to millions of tourists from all over the world. Arkhyz has also become a true star, and Mamison is just taking its first steps, so guest support is especially important to us. The resort's first full season is ahead, during which we expect to impress with the quality of its 19 kilometers of slopes. We plan to open them in early December," noted Andrey Yumshanov.

The ski season at Elbrus already began on November 1st—the first in the country. From December 4th to 7th, the resort will open its first all-Russian ski season, thus establishing a new tradition: the holder of the title "Best Ski Resort in the Country" brings together all the leading representatives of the Russian ski industry and all the winners of the "Mountains of Russia" award.

The winners of the 2025 award were traditionally chosen by online voting on the official website. Nearly 400,000 Russians voted for their favorite resorts and hotels in 24 categories, including 8 federal and 16 regional. The total number of votes exceeded 382,000. The North Caucasus region was among the top three in terms of voting activity.

"Mountains of Russia" is the first national award in the field of ski tourism. In 2025, it was held for the fourth consecutive year with the support of the Ministry of Economic Development of the Russian Federation. Its goal is to stimulate the growth of the ski industry and draw attention to the opportunities for recreation in Russia's mountains.

Kavkaz.RF awarded Nicole Kovalchuk a year's pass to stay at the Elbrus mountaineering hut.

The climber became the second Russian woman to climb all 14 eight-thousanders, following Elbrus ambassador Alina Pekova. The award ceremony took place during the Russian Mountaineering Federation's gala evening in Moscow. Deputy General Director Rustam Tapayev presented the award, along with a giant photo taken from the window of the Liprus mountaineering hut at an altitude of 3,912 meters.

"We read in your interviews that you dream of involving your entire large family in climbing. I'm sure the country's highest resort is the best place for this. I know that you climbed Elbrus in 2022 as part of the Seven Summits program and spoke very warmly of our resort. This annual pass for accommodation at the Liprus mountain hut is an invitation to experience the great mountains not only as a grand goal, but also as an inspiring pastime surrounded by your loved ones. We'll be waiting for you!" Rustam Tapayev addressed the climber.

Nicole Kovalchuk is the wife of Olympic hockey champion Ilya Kovalchuk, a mother of four, a singer, and a blogger. In May of this year, she completed the "Seven Summits" program, which includes the highest peaks on seven continents.

Denis Urubko became the first CIS member to join the "14 Summits Club." Urubko is a professional mountaineer and winner of prestigious awards. It took him nine years to conquer all eight-thousanders.

In 2024, the first Russian representative, Alina Pekova, a native of Kabardino-Balkaria, joined the "Club 14" list. The ambassador of the Elbrus resort began mountaineering in 2017 at her home resort and climbed all eight-thousanders in less than two years. In 2025, Nicole Kovalchuk also joined the list.

It took 16 years for Italian Reinhold Messner, the discoverer of the "Club 14," to achieve his achievement. In general, just a couple of decades ago, professionals needed between eight and fifteen years to achieve this. Many renowned athletes have never been able to climb all the mountains on the list.

Andrey Yumshanov presented the company's annual performance results to the Federation Council.

A roundtable discussion on the implementation of Kavkaz.RF's economic and infrastructure projects was held in Moscow, organized by the Federation Council Committee on Economic Policy. Senators were interested in the development institute's investment projects, their legislative support, as well as the synchronization of legislative initiatives, infrastructure development, and the substitution of foreign equipment and technology.

The key event of 2025 for Kavkaz.RF was the launch of the Mamison mountain resort in North Ossetia. This is the country's first major ski resort built from scratch after the imposition of sanctions on the supply of European equipment and technology. Since its opening, Mamison has been positioned as an art resort that unleashes the creative potential of its guests. Since March, it has welcomed over 40,000 people and is now preparing for its first full ski season.

Another major event was the start of construction on a seaside resort, tentatively titled the Caspian Coastal Cluster, in Dagestan. This is a site of the presidential project "Five Seas and Lake Baikal," where the service center—the resort's core—and resident facilities are already under construction. A long-awaited new ski area opened at Elbrus last week, and commissioning of the resort's main facilities is nearing completion at Veduchi in Chechnya. In total, the company built 12 facilities this year, including four cable cars.

"Any hardware, even the highest quality and most modern, is worth nothing without qualified and dedicated people. Therefore, I consider achieving the status of an all-Russian competence center (OCC) in tourism this year, as well as the creation of the Association for the Development of Human Resources in the Tourism Industry of the North Caucasus Federal District, to be an important milestone in the company's history. Coupled with work on analyzing labor productivity and the factors influencing it, this is probably one of the main areas of development today. It's tedious, difficult, and time-consuming, but without a system, there will be no large-scale changes in the industry as a whole," notes Andrey Yumshanov, CEO of Kavkaz.RF.

Kavkaz.RF's investment policy has also undergone significant changes. The new document sets stricter and clearer priorities for state support, focusing on breakthrough regional projects and projects by residents of territories with preferential treatment, not only in SEZs but also in priority development areas and industrial parks in the North Caucasus. The company's investment portfolio has grown to 53.8 billion rubles. This represents an increase of 40.8 billion rubles compared to 2021, when Kavkaz.RF was established on the basis of the North Caucasus Development Corporation and North Caucasus Resorts. This was made possible by the active participation of leading banks and the concentration of state support mechanisms. A total of 236 projects across all regions of the North Caucasus Federal District have been supported.

Investments from SEZ residents are also growing. To date, businesses have invested 27.9 billion rubles in resorts managed by Kavkaz.RF, including 13 billion in Arkhyz, 6.5 billion in Veduchi, 5.3 billion in Mamison, and 2.6 billion in Elbrus. Declared investments by 2030 amount to over 210 billion rubles, several times higher than government investments.

"Kavkaz.RF is a driver of regional development. The company's portfolio includes many interesting, strong projects, such as the Great Caucasus Trail. It will certainly become world-famous, but significant efforts are still needed to achieve this, both legislatively and physically," notes Dmitry Vorona, Deputy Chairman of the Federation Council Committee on Economic Policy.

The previous meeting between the leadership of the Russian Ministry of Economic Development and Kavkaz.RF at the Federation Council Committee on Economic Policy took place at the end of April. The Caspian Coastal Cluster project, construction of which began last summer, was discussed in detail.

Kavkaz.RF is ready to scale up its experience in increasing labor productivity in the North Caucasus Federal District's tourism industry.

The Development Institute has summarized the results of a pilot program to reboot labor productivity in the tourism sector in the North Caucasus. As part of the program, in 2025, Kavkaz.RF's Department of Industry Competencies in Tourism helped implement lean manufacturing tools in 13 organizations – hotels, resorts, and travel agencies in each region of the North Caucasus Federal District.

The transformation was based on lean manufacturing philosophy and tools adapted to the service industry. The company's specialists focused on the most sensitive customer touchpoints: check-in, room cleaning, and digital interaction. As a result of streamlining work processes, check-in time was reduced by up to 70% through the implementation of online registration and a document processing system. Housekeeping routes and inventory logistics were optimized for room cleaning, ensuring that rooms are ready on time. The creation of digital templates for tour operators has reduced the cycle of redundant approvals and the time it takes to launch new offerings, minimizing errors.

"We've moved from theory to practice. Lean tools have proven their effectiveness in specific projects. This is an important step in building a modern and competitive hospitality industry in the North Caucasus. Moreover, we plan to scale up best practices across the industry as a whole. This work is intended to increase productivity, improve service quality, and, consequently, increase tourist flow," commented Timur Kebekov, Deputy General Director of Kavkaz.RF.

A key focus of the program was the transfer of competencies. During practical workshops, participants strengthened their skills in independently identifying production waste, analyzing work processes, and implementing lean solutions. As a result, the pilot organizations have developed a core team of specialists who are proficient in the methodology, operational chaos has been reduced, and skills in workplace organization, the creation of clear algorithms, information stands, and visual management for operational quality control, along with other lean manufacturing tools, have become part of daily practice.

"In a context of growing competition and heightened guest expectations, the Russian tourism industry is in dire need of operational transformation. Our pilot project was a practical response to this challenge. Our goal was not simply to identify areas of inadequacy and improve them, but to teach them how to spot shortcomings, analyze them, and find solutions. Our goal is to lay the foundation for a culture of continuous improvement and provide the industry with specific tools for improving efficiency," noted Oksana Goncharova, project manager and chief expert at the DOK.

In 2026, as part of the federal project "Human Resources for Tourism," it is planned to implement 19 more projects to implement lean manufacturing at regional enterprises. The industry competence center will begin selecting applications early next year.

Kavkaz.RF is the unified development institute for the North Caucasus. Under the supervision of the Russian Ministry of Economic Development, the company builds and develops resorts, manages tourism and recreational special economic zones, creates conditions for business development in the region, and fosters a favorable investment climate. Deputy Prime Minister Alexander Novak oversees the North Caucasus Federal District in the Russian Government.

The industry competence center was established at Kavkaz.RF in 2024 in accordance with the roadmap approved by Russian Minister of Economic Development Maxim Reshetnikov as part of the implementation of the national projects "Labor Productivity" and "Tourism and Hospitality Industry." The center works in close coordination with the relevant departments of the Russian Ministry of Economic Development and directly supports the Federal Competence Center for Labor Productivity.

Engaging young people in the development of the North Caucasus is the primary goal of Kavkaz.RF and North Caucasus Federal University.

A meeting on staffing the tourism industry in the North Caucasus Federal District was held at the Pyatigorsk Institute of North Caucasus Federal University. Representatives of the Kavkaz.RF Development Institute, the Association for the Development of Human Resources in the Tourism Industry of the North Caucasus Federal District, and North Caucasus Federal University participated. Those present discussed the shortage of qualified specialists in the resort industry and the growing need for such personnel.

"The issue of staffing shortages, given the specifics of the region, can be resolved by combining the efforts of government, education, and business. The Human Resources Development Association we created aims to engage employers in developing targeted training so that universities and vocational schools understand the current shortage of specialists in the market. Only in this way can we fill the industry with competent workers of various levels," said Timur Kebekov, Deputy General Director of Kavkaz.RF.

The collaboration between Kavkaz.RF and NCFU is focused on engaging young people in the development of the macroregion and human resource development projects, primarily in the hospitality sector. Effective collaboration formats include student expeditions "Rediscovering Russia," case championships, and initiatives aimed at developing the tourism and investment potential of the North Caucasus.

"NCFU has developed a full-cycle tourism training program—from vocational training and secondary vocational education to higher education programs. We focus on practice-oriented training and synchronizing educational programs with real-life work in tourism industry companies," noted Tatyana Shebzukhova, Acting Rector of NCFU.

The Association regularly holds job fairs at educational institutions and companies and has already facilitated the signing of 140 targeted training agreements.

"We have a number of strategic agreements with regional executive authorities, we work with universities and colleges throughout the Caucasus, and we provide career guidance to high school graduates. We see the interest of all parties: businesses, education, government, and the students themselves. Our goal is to become the connecting link that will unite all efforts and help develop the region's human resources potential," added Fatima Dzutseva, Acting Head of the Association for the Development of Human Resources in the North Caucasus Federal District's Tourism Industry.

The launch of Mamison, the expansion of Elbrus, and 83 billion rubles in investments: Kavkaz.RF summarized the year's results.

The creation of new resorts, the modernization of existing ones, the attraction of investment in the macroregion, and the development of lean technologies and human capital—the development institute Kavkaz.RF concluded the reporting period with a series of new projects.

The launch of the Mamison resort in North Ossetia.

The opening of the Mamison ski resort in North Ossetia was a landmark project. For the first time, a tourist complex of this scale was built practically from scratch without the participation of European equipment and technology suppliers. This is the first ski resort with the prefix "art," where traditional active recreation coexists with creativity and contemporary art. In 2025, Mamison welcomed over 40,000 guests, and the resort is now preparing for the full ski season.

Construction of a seaside resort on the Caspian Sea has begun.

The Caspian Coastal Cluster in Dagestan is part of the presidential project "Five Seas and Lake Baikal" and is designed to create a modern, world-class seaside resort. Kavkaz.RF has begun construction of the service center—the resort's core—and resident facilities. Expansion of the Elbrus Ski Area: The legendary ski resort has gained a new ski area—an additional 5.2 kilometers of scenic trails and two new cable cars at an altitude of 3,500 meters. The resort has installed long-awaited evening piste lighting, and the second phase of construction of the artificial snowmaking system has been completed. There are also big plans for the coming year: construction has begun on a modern service center at Azau Glade, and next year, development of a new ski area will begin, significantly reducing congestion in the existing one.

Veduchi is preparing for launch.

The commissioning of the main construction projects at the Chechen resort is nearing completion. In 2025, two modern cable cars and a 2-kilometer ski run were built there. A major achievement was the launch of a major energy hub: the Veduchi 110 kV substation was commissioned and a double-circuit overhead power line was installed. Now, the entire Veduchi infrastructure will receive a stable, high-quality power supply. This primarily includes powering the giant 3S-type cableway over the gorge and all new infrastructure built on the northern slope—14 km of tracks and three cable cars.

Investment Projects.

Since its inception, Kavkaz.RF has attracted over 83 billion rubles in investment to the North Caucasus Federal District. This figure includes the company's investment portfolio as well as investments from residents of special economic zones. Thus, the total investment portfolio of Kavkaz.RF is approximately 55 billion rubles. This represents an increase of 42 billion rubles compared to 2021, when Kavkaz.RF was established on the basis of the North Caucasus Development Corporation and North Caucasus Resorts. 237 projects across all regions of the North Caucasus Federal District were supported. Investments from SEZ residents are also growing. To date, businesses have invested 27.9 billion rubles in resorts developed by Kavkaz.RF. Of this, Arkhyz attracted 13 billion, Veduchi 6.5 billion, Mamison 5.3 billion, and Elbrus 2.6 billion. Declared private investment by 2030 will exceed 210 billion rubles and will exceed public investment several times. Residents of the Caspian Coastal Cluster, Kavkaz.RF's first seaside resort, account for a significant share. The renovated Elbrus resort is also generating significant investor interest. Currently, there are 29 residents there, four of which are building large-scale complexes. One large hotel has already begun construction, two projects are under review by Glavgosexpertiza, and one is in preparation.

As Andrey Yumshanov, CEO of Kavkaz.RF, notes, an important new focus has been on training and professional development for tourism employees in the North Caucasus Federal District, as well as the implementation of lean technologies at tourism enterprises.

"In total, we built 12 complex mountain facilities in one year, including four cable cars. But modern technology and equipment are worthless without qualified and engaged specialists.

Therefore, I consider our company's achievement this year of receiving the status of an all-Russian competence center (OCC) in tourism, as well as the creation of the Association for the Development of Human Resources in the Tourism Industry of the North Caucasus Federal District, to be a significant achievement. Along with the implementation of labor productivity and serious analytical work, I consider the development of human capital as the main driver of economic development in the North Caucasus Federal District to be one of the key areas today," says Andrey Yumshanov.

70,709 guests visited Kavkaz.RF resorts during the New Year holidays.

This is 11,000 more than during the same period last year. The average tourist flow growth was 18%, with Veduchi in Chechnya leading the growth, while Mamison, which opened its first ski season, reached 1,000 guests per day in early January. As a reminder, the statistics only include users of cable cars operated by Kavkaz.RF.

Elbrus welcomed its 56th ski season with several new features – an eastern zone with two cable cars and slopes, and the long-awaited evening skiing, which opened just before the New Year and became the best gift for guests. On average, about 500 people skied under the spotlights daily. Elbrus welcomed 6,500-7,000 tourists daily. January 5th was the most popular date, with 7,370 people visiting the resort in Kabardino-Balkaria and 1,320 in North Ossetia. Veduchi welcomed 450 people on January 4th, also a record for the resort under construction in Chechnya.

"Despite the positive trend, nature tested our resilience throughout the holidays – both Elbrus and Mamison experienced chronic snow and wind shortages, followed by a full-blown snow cyclone that partially paralyzed the resorts. The operations team worked around the clock to ensure the ski slopes were ready. The cable cars were periodically closed due to wind conditions; these are basic safety requirements. We've increased tourist traffic, but it's far more important for us to create a quality product, resorts where guests return, gain new experiences, and recharge. There's still a lot of work to do in this area," says Andrey Yumshanov, CEO of Kavkaz.RF.

Around 3,000 people took part in the New Year's Eve festivities. They all attended the President's New Year's address and a festive concert.

Throughout the holidays, artists and musicians performed at the Kavkaz.RF resorts. Guests at Elbrus were treated to a performance by one of the country's most recognizable DJs, DJ M.E.G., a titan of the Russian club scene. Ten DJs played for a total of over 50 hours across the resort's two venues.

Participants danced for over two kilometers around the Christmas tree at the fairground. Meanwhile, over 2,000 Soviet-style New Year's decorations were made during children's workshops, and the most flamboyant guests recited over 100 poems on stools.

The culinary opening of the year on January 1st deserves special attention. Guests of the celebration were able to sample traditional Caucasian cuisine. A total of 50 liters of ayran, 100 liters of shurpa, 45 kg of khichins, 100 kg of plov, and 150 kg of shashlik were consumed.

The traditional festive descent of Father Frosts also took place on Elbrus. Sixty-five riders dressed as Father Frosts took part in the flash mob.

Kavkaz.RF and hh.ru have launched a career portal for the North Caucasus regions.

The portal aims to make the North Caucasus labor market more transparent and understandable for job seekers, employers, and educational institutions, addressing staffing issues not only now but also in the future.

The pilot project was initiated by the North Caucasus Federal District Human Resources Development Association, established by Kavkaz.RF. Dozens of SEZ residents and other companies, constantly seeking the competencies needed for business development, have already joined.

"We provide assistance in training qualified personnel for the tourism and hospitality industries, and, potentially, for other sectors of the region's economy. Our goal is to bring together businesses, educational institutions, and current and future workers so that they can find common ground, so that educational institutions can adapt to business needs and produce sought-after specialists who will find jobs." "The platform we're creating is designed to facilitate this interaction," notes Valery Abiyev, head of the Association for the Development of Human Resources in the North Caucasus Federal District's Tourism Industry.

The portal is a standalone resource within the hh.ru ecosystem, featuring job openings and resumes, useful facts about moving to the North Caucasus, and, most importantly, labor market analytics for the macroregion.

"When we entered this field, we saw a huge gap between market needs and the talent that educational institutions in the North Caucasus Federal District were preparing. Furthermore, the mechanism for targeted training and career guidance during studies is extremely poorly established. Our joint project with HeadHunter, a leading recruiting company, aims to bridge these gaps through technology. The platform has only just been launched, but we will work to make it popular and useful, especially for young people," says Timur Kebekov, the lead developer and Deputy General Director of Kavkaz.RF.

Job seekers can search for jobs by city and region, find job openings, learn about employment opportunities, and access content about life, education, and regional development. The portal will help job seekers navigate available professions, educational pathways, and working conditions in the republics of the North Caucasus Federal District.

In the career portal's analytics section, business owners can study the average salary of specialists they plan to hire and whether demand exceeds supply or vice versa. Employees just entering the labor market and trying to understand the demand for their expertise can do the same.

"We are very interested in supporting our colleagues in promoting the North Caucasus Federal District HR brand. The scope of our planned collaboration is not limited to the creation of a regional portal. We plan to work comprehensively to develop new and effective practices for interaction between businesses, educational institutions, and job seekers in the North Caucasus," says Dmitry Markelov, Director of Government Relations and Corporate Governance at hh.ru.

The career portal kavkaz.hh.ru is part of a larger project between the Russian Ministry of Economic Development and Kavkaz.RF to address the human resources gap in the North Caucasus. Thus, an Industry Competence Center (ICC) was established within the development institute. It is dedicated to the tourism and service industry, one of the most promising and rapidly developing sectors in the region.

Regions of the North Caucasus Federal District (NCFD) were among the top ten in Russia's Green Tourism Development Rating.

The results of the study of the best destinations for responsible travel for 2025 were presented in the State Duma on January 27. The roundtable was chaired by Nikolai Valuev, First Deputy Chairman of the State Duma Committee on Tourism and Tourism Infrastructure Development.

St. Petersburg topped the national ranking, followed by Moscow, the Nizhny Novgorod Region, and the Kemerovo Region. One of the year's notable trends was the qualitative leap forward in the North Caucasus Federal District. Kabardino-Balkaria took fifth place, and the Chechen Republic eighth.

Regions of the North Caucasus Federal District demonstrated steady growth. Experts emphasized that the Caucasus is successfully combining increased tourist flow with the preservation of its natural, national, and cultural characteristics.

"Our main principle is to do no harm." "Kavkaz.RF is integrating a comprehensive approach to the development of our resorts' engineering infrastructure and carefully integrating environmental and cultural aspects into regional development. This makes tourism in the North Caucasus Federal District not only attractive for investment but also responsible for the environment, heritage, and traditions, which is key to the industry's sustainable transformation," noted Rustam Tapayev, Deputy CEO of Kavkaz.RF.

The study was conducted by RUDN University's Graduate School of Management with the support of the Russian Geographical Society, the Eurasian Rating Agency, the National Union of the Hospitality Industry, and the Russian tourism platform "Let's Go!" Experts assessed the regions based on their tourism attractiveness index and their commitment to sustainable development principles.

Andrey Yumshanov: The announced investment volume in the Caspian Cluster is 112 billion rubles.

The presidential project "Five Seas and Lake Baikal" was the topic of a meeting of the subcommittee on the implementation of federal tourism investment projects, chaired by Deputy Prime Minister Dmitry Chernyshenko. The federal project covers the entire country—from Kaliningrad to Primorye and Lake Baikal, from St. Petersburg to the Black Sea.

The heads of the regions where federal seaside resorts are being built reported on the status of each. Andrey Yumshanov, CEO of Kavkaz.RF, participated in the meeting. The resort, which is being created by the development institute in conjunction with the Government of the Republic of Dagestan on the Caspian Sea, has been assigned an important role.

Dagestan Head Sergey Melikov reported on the implementation of the Caspian coastal cluster. The plans for the planning and land surveying of the resort area, the buffer zone, and the territory of the All-Russian Children's Center "Dagestan," covering a total area of ​​411 hectares, have been approved.

The republic has completed the design of its road infrastructure and water supply system. A state expert review has issued positive conclusions for the construction of four sections of regional roads, totaling approximately 30 km. Funding for their construction was allocated until 2029-2030 as part of the six-year road development plan approved by a Russian Government decree. However, according to the project roadmap, the work is expected to be completed by the end of 2027. The Federal Road Agency supported the regional governor's request to defer funding for the access road infrastructure to 2026-2027 .

"Regarding water supply, the republic has completed the development of design documentation for the cluster's water supply. We have received a positive conclusion from the state expert review and confirmation of the cost estimate. A contract for the technical connection of the resort's water supply facilities is being concluded. Regarding gas supply, an agreement on technological connection has been signed between Kavkaz.RF, Gazprom Gas Distribution Dagestan LLC, and Gazprom Gazifikatsiya LLC," said Sergey Melikov, the head of Dagestan. Kavkaz.RF is actively constructing the resort—the framework of a four-story service center, which will serve as its core business and logistics hub, is being built. Reinforcement of the columns and walls of the first floor is already underway.

Contractors have been selected for four more resort projects—roads, parking, utility lines, and general landscaping. They are currently performing surveying, preparing working documentation, and procuring materials. All these projects are scheduled for completion in 2027. Six more Kavkaz.RF projects are being designed.

"Residents are also working with us. To date, 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 60 billion rubles. Five investment projects have received approval from the Russian Ministry of Economic Development for preferential lending. "The total amount of subsidized preferential loans is approximately 16.5 billion rubles," notes Andrey Yumshanov, CEO of Kavkaz.RF.

Kavkaz.RF is preparing to launch its "Investment Hub" digital platform.

Collaboration with the country's largest credit institutions and development institutions within the framework of the North Caucasus Federal District Investment Hub was discussed at a meeting chaired by Andrey Tsemakhovich, First Deputy General Director of Kavkaz.RF. Representatives of leading financial institutions participated in the discussion: VEB.RF, Sberbank of Russia's South-West Bank, VTB Bank, MSP Bank, Rosselkhozbank, DOM.RF Bank, and PSB Bank.

The meeting marked an important step in implementing Deputy Prime Minister Alexander Novak's instruction to expand the development institution's activities as a "one-stop shop" for working with investors in the North Caucasus Federal District.

A digital platform will become the central tool for interaction. It is designed to consolidate information on breakthrough projects in the macroregion and residents of territories with special legal status (SEZs, priority development areas, technology parks). Kavkaz.RF acts as a one-stop shop, providing support in four key areas: project assessment, transaction structuring, project support in obtaining financing from credit institutions and development institutions, consultations, and assistance in obtaining government support.

"By creating the Investment Hub, we are acting as a high-quality filter and service center for businesses. Our goal is not simply to assemble a database, but to provide in-depth analysis and project packaging tailored to the requirements of specific banks. We offer financial institutions well-developed initiatives in a highly prepared state, which minimizes their risks and significantly accelerates the investor's journey from idea to project implementation and promotion of finished products," said Andrey Tsemakhovich, First Deputy General Director of Kavkaz.RF.

Thanks to this synergy, development institutions and banks will be able to consider projects that have already undergone initial screening and consulting support, making the investment process in the North Caucasus Federal District more efficient and facilitating additional investment in the district.

The overall impact for the North Caucasus Federal District is an increase in the number of investment projects receiving state support, growth of legitimate businesses, the creation of additional output (contribution to GRP), additional tax revenues for budgets at all levels, and the creation of additional jobs.

Roscongress has published the business program for the North Caucasus Federal District's main business event, which will take place from May 17 to 19 at the MinvodyEXPO International Exhibition Center. In addition to its key sessions on special economic zones, human resources, import substitution, and attracting investment, the Kavkaz.RF development institute will put together a separate program for young people trying their hand at business or looking for a new job.

The entire forum program has also shifted toward small business: in architecture, there are numerous sessions devoted to creative industries, applied digital technologies, finding new market niches, and optimizing processes in existing ones. According to the organizers, the exhibition display will also be curated to highlight interesting projects by entrepreneurs, possibly even startups.

The key session of the forum is a plenary session featuring Deputy Prime Minister and curator of the North Caucasus Federal District, Alexander Novak. This discussion is traditionally strategic and serves as a guide for the business community for the coming year and beyond.

A new feature of the event will be the lecture "Dialogue with the Governor: Focus on the Caucasus," where the regional governor and his team will present regional development priorities and the cultural context in a pitch session. Prominent figures from each region plan to participate.

The Kavkaz.RF team will also present its strategy through 2030 in a similar format. CEO Andrey Yumshanov and his dedicated deputies will discuss their plans for transforming the company into a successful, socially oriented state corporation that skillfully manages assets and reinvests in new, promising projects.

The Kavkaz.RF program will also focus on personnel training, which is being developed by the Industry Competence Center in collaboration with its experienced partner, Headhunter. These will include practical sessions on developing an HR brand for the North Caucasus, as well as workshops on resume writing and job searching using the new career portal.

Ski mountaineer Nikita Filippov won his first medal at the 2026 Winter Olympics in Italy.

He took second in the sprint—a discipline that involves several stages: part of the ascent is covered on skis with skins, part on foot, with the skis strapped to a backpack, and then a high-speed descent back down on skis. The race lasts approximately 3.5 minutes.

It's worth noting that Nikita's first ski mountaineering camp (he had previously also competed in biathlon and cross-country skiing) took place on Elbrus. It served as preparation for the Junior World Championships and simultaneously as a turning point: the mountains captivated him so much that he decided to devote himself entirely to ski mountaineering.

The Kavkaz.RF resorts invite you to spend a long weekend in the mountains.

During the holidays, in addition to skiing, guests of Elbrus and Mamison will enjoy an interactive program dedicated to Defender of the Fatherland Day. On February 22 and 23, from 11:00 AM to 4:00 PM, the resorts will host an entertainment program.

Azau Glade at Elbrus will feature workshops, themed competitions, and hosts and a DJ will create a festive atmosphere. The program will open on both days with the children's animation show "Adventures of Young Heroes," and will continue on various days with competitions in giant boxing gloves, arm wrestling, tug-of-war, a 16-kilogram kettlebell lift, and winter boccia. On Elbrus, you can extend your vacation with evening skiing: the Krugozor-Azau trail is now open every evening from 6:30 PM to 10:00 PM.

At Mamison, guests will enjoy an interactive program called "Young Skier's Course," along with entertainers and a DJ. Sports competitions are also planned, including weightlifting, target throwing, an obstacle course, and a giant ski race. Both days will conclude with a discotheque on the resort's main square. Mamison guests can spend their evenings at the new Grand Galabu restaurant, which will open this weekend on the second floor of the service center.

Furthermore, on February 21, Mamison will host another master class, the "Slow Life Workshop," on sketching from life. The event will be led by Sergey Mikhitarov, a photographer and artist from Pyatigorsk. It starts at 1:30 PM. Register here.

It's high season at the resorts, so from February 9th to March 15th, a special system of rates and discounts is in effect. At Elbrus, there's a 5% discount, and when paying with a QR code, a 10% refund is credited to your card. At Mamison, from February 20th to March 15th, there's a 20% discount on ski passes.

For the second year in a row, Kavkaz.RF has won the Southern Silver Archer, the premier public relations award.

Last year, the Kavkaz.RF channel won in the "Best State Communications Project" category. This year, the art festival at Mamison won in the "Creative Industries" category. Polina Likhacheva, Mamison's PR director, defended the project.

The festival became a multi-layered experience, combining a world-class light show with a performance by Ossetian musicians, a creators' fair and a summit performance, a conceptual dinner reimagining national cuisine, and a sunrise in a tent camp.

North Caucasus will present the summer season, mineral water and a discussion about the conceptual resort of the future at MITT.

Institut razvitiya Kavkaz.RF published the program of participation in one of the main tourist exhibitions of the capital. Instead of the usual exposition of mountain resorts, the company declares itself as a producer of mineral water "Slavyanovska" and initiates a conversation about the economy of the conceptual resort. The anchor projects of the company — resorts "Elbrus" and "Mamison" — will also be there. The summer season in the mountains will be presented in the form of an interactive message board, where guests will be able to share their own plans for the warm season.

"How to stand out in a large stream of informational noise?" We have been asking this question for a long time. Last year, we responded to it with a huge puffer stand, where you could slow down and take a break from the hustle and bustle. This time, all our activities are not a monologue, but a dialogue with the visitor. Somewhere going online, somewhere in thinking about one's own identity. At the panel session, together with friends on projects and the market, we will try to digitize that very "conceptuality". Understand how a strong concept affects business indicators", says Andrey Yumshanov, general director of Kavkaz.RF and one of the speakers of the upcoming session.

The dialogue will be moderated by art expert Aleksandra Plotnikova. The heads of large and niche tourism projects such as "Mantera", "Manzherok", Cosmos Hotel Group and "Azimut" networks, as well as opinion leaders Alexander Fedorova (New Russian) and concept chef Ivan Dubkov are invited to participate.

Ministry of Economic Development: The Kavkaz.RF development strategy concept through 2030 envisages attracting 150 billion rubles in private investment.

Russian Minister of Economic Development Maxim Reshetnikov held a strategic session dedicated to the Kavkaz.RF Development Institute's development strategy concept. The discussion focused on the company's role in achieving national goals and creating a sustainable economic growth model for the North Caucasus Federal District through 2030.

"The previous strategy was adopted in 2022. Since then, national development goals and approaches to strategic planning have changed. The development institute has established a solid foundation, and now it is important to move on to the next stage—strengthening the investment component, increasing the effectiveness of existing instruments, and setting a more ambitious development dynamic," noted Maxim Reshetnikov.

Over the past three years, more than 40 infrastructure facilities have been created at existing sites, over 70 km of eco-trails have been laid, and the resorts welcome approximately 2 million tourists annually. Through the Development Institute's instruments, 24 billion rubles in extra-budgetary investments were attracted to special economic zones. 219 projects with a total investment volume of over 24 billion rubles were supported. These results have helped to create a sustainable investment environment in the macro-region.

Deputy Minister of Economic Development of the Russian Federation Sergey Nazarov emphasized that the key achievement was the restoration of trust in the financial sector and the development of a working project financing model.

"We see that the banking sector is returning to the region: 203 investment projects in various sectors of the economy, worth 19 billion rubles, were supported with the participation of credit institutions. The total volume of loans attracted by residents of special economic zones has exceeded 51 billion rubles, while high repayment discipline has been ensured. This demonstrates the development of a sustainable investment environment," stated Sergey Nazarov.

The development of banking participation has significantly expanded the financial capabilities of projects and reduced dependence on direct budgetary instruments. At the same time, the strategy concept calls for the further removal of infrastructure restrictions—modernization of utility networks in the SEZ, development of the energy and housing and utilities sectors, and increased labor productivity in the tourism industry. These areas are viewed as interconnected elements of a unified economic growth model.

In his report, Andrey Yumshanov, CEO of Kavkaz.RF, outlined the strategic logic for the next step in the company's development.

"We have reached a stage where we need to clearly define the role of the Development Institute in shaping a new economic model for the North Caucasus. Our task is to focus on tools that systemically impact investment, labor productivity, and employment, and to ensure the company's long-term financial stability as the basis for the implementation of major projects," noted Andrey Yumshanov.

The updated strategy concept consolidates Kavkaz.RF's focus on five areas: development of special economic zones and infrastructure, implementation of investment projects, participation in the modernization of the energy and housing and utilities sectors, the formation of an industry competence center, and the development of human resources.

In 2026, Kavkaz.RF will continue to work with the North Caucasus Federal District Human Resources Development Association, including through a specialized career portal created jointly with one of the largest HR platforms, and will also introduce a new initiative—a cable car certification system. The company has formalized its expertise in mountain construction through a subsidiary, Kavkaz Engineering, and is developing integrated tourism solutions—from infrastructure preparation to product launch. These areas complement investment activities and serve to strengthen financial stability and reduce dependence on direct government funding.

The baseline scenario for the 2030 strategy concept plans to allocate 26 billion rubles to developing SEZ infrastructure and attract up to 150 billion rubles in resident investment. This will mark a transition from isolated projects to a systemic investment development model for the macroregion.

Following the strategic session, Maxim Reshetnikov outlined Kavkaz.RF's priorities for further growth: the active use of federal support instruments and strengthening the company's role as an investment operator. The Minister emphasized that the accumulated experience allows us to move on to the next stage—increasing the share of extra-budgetary funding sources and developing a sustainable financial model.