Makhachkala, April 30, 2014. The Economic Council at the Daghestan Head held a regular meeting to consider the Caspian Sea’s investment potential as a factor of Daghestan development.Opening the meeting, Council’s Chairman Abdulkhalik Gindiev drew participants’ attention to the big challenges they face and the efforts they need to apply to implement them.

Council Member Yuri Sagidov reported on the Caspian Sea’s investment potential for Daghestan development saying that the main areas Daghestan needs to take part in are vessel building and fish breeding.
"In Russia, the state-owned "United Shipbuilding Corporation" JSC has been created to implement 80% of shipbuilding projects. This organization comprises 16 design bureaus and 40 companies on North Sea, Northwest, Black Sea and Far East coasts. Daghestan must be part of it,"- Sagidov said.

He added that another aspect of Daghestan development involving the Caspian Sea’s investment attractiveness was the use of "North-South" and "East-West" international transport corridors. He thinks that it will ensure a successful transit of goods from India to Europe.

"What’s the Daghestan’s role in it? There is a lot of complaints about the accumulated goods at the "Olya" port, Astrakhan region, and the loss of container modules. That’s no go in Daghestan. To provide transit on this route, we’ll need some new ferry lines from the Makhachkala commercial seaport. We need to pay particular attention to the ferry line from Makhachkala to Iran’s Anzali port. It will provide creating new transport links with Iran, the Middle East, China, India, and so on," - Yuri 
Sagidov said.

During the meeting, participants also noted the need to ensure environmental safeguards and environmental protection while implementing the tasks set.