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.