SIMFEROPOL (Sputnik) — Investors are ready to invest 290 billion rubles ($5.1 billion) in the Crimean economy in the near future, Andrey Melnikov, the minister of Economic Development of the Russian Republic of Crimea said Saturday on the sidelines of the St. Petersburg International Economic Forum (SPIEF).
"This is more than 290 billion rubles, which investors are ready to invest in the Crimean economy in the next two to three years," Melnikov told reporters.
The minister added that without the flow of investments, the peninsula would remain a region with an outdated infrastructure.
"We would like to turn Crimea into a modern territory," Melnikov stressed.
SPIEF, held in Russia's second largest city of St. Petersburg between Thursday and Saturday, is a major global platform for communication between business representatives and discussion of crucial economic issues. The Sputnik International News Agency is an official media partner of the forum.
