Dubai World is "exploring fresh investment opportunities in Russia to enhance its presence in the country," the company said in a Press statement yesterday.

The vice-chairman of Dubai World and group CEO, Ports and Free Zone World, Jamal Majid bin Thaniah, made the remarks during a meeting with the minister of transport of the Russian Federation, Igor Levitin. They discussed existing and emerging business opportunities in Russia, particularly in the ports, shipping and logistics sectors.

"Russia is a fast developing and very resourceful market. We are keen to expand our business presence here, especially in the marine services and special economic zones sectors. We will initiate the process by empowering our team to conduct high-level discussions with Russian officials," said Bin Thaniah.

The minister gave a presentation on the Russian Federation's plans for the integrated development of the Russian transport sector, including some specific, ambitious projects. He expressed interest in developing a major inland port and special economic zone on the outskirts of Moscow, possibly as a joint venture with Dubai World.

The Dubai World delegation in turn gave a detailed presentation of the group's investment activities, with specific focus on achievements and plans in integrated developments in the shipping and logistics segments of the industry across the world.
Welcoming Bin Thaniah, the Russian Minister of Transport said:

"We believe Russia could learn a great deal from Dubai's development experience. We invite Dubai World to seriously consider the investment potential in Russia.

"During my visits to Dubai I have been impressed by the dynamism of your great Emirate, especially the role Jafza has played as the region's logistics hub. We wish to see Dubai World companies such as DP World and Jafza represented prominently on Russia's industrial map."

Reflecting the high level of importance attached to Bin Thaniah's visit, the host delegation to the talks included several high-ranking officials, including Petr Katsyv, vice-chairman of the Moscow regional government and the minister of transport of the Moscow region, Alexander Davydenko, head of federal agency of maritime and river transport, and Yulia Zvorykina, head of department of economics and investments.

Dubai World is one of the world's largest holding companies and includes such entities as: DP World, Nakheel, Dubai Customs, Jafza, Istithmar, Dubai Maritime City, Jadaf Dubai, Dubai Multi Commodities Centre, Civil Engineering Department, and the Information Technology Center.