Alexander Novak spoke at the plenary session of the international forum “Abkhazia – Investment in the Future”

Published on: 2026-04-04

Source: Government of the Russian Federation – Government of the Russian Federation –

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Deputy Prime Minister of Russia Alexander Novak, as part of a working visit to the Republic of Abkhazia, spoke at the plenary session of the first international economic forum “Abkhazia – Investments in the Future”.

The Deputy Prime Minister emphasized that Abkhazia is a faithful friend and a reliable partner of Russia.

“The forum showed the main thing: we have moved from one-off projects to a systemic, long-term partnership. We have clear agreements, working financial instruments, political will from both sides, and, most importantly, an understanding of why we are doing all this: primarily for people — to improve the quality and standard of living,” noted Alexander Novak. The deputy prime minister emphasized that strong socio-economic ties and a constructive approach to the implementation of joint tasks yield tangible results.Over the past five years, the economy of Abkhazia has grown threefold, the republic’s own income has increased by 2.7 times, the average salary has nearly doubled, and mutual trade growth showed 18% just last year. Large-scale projects long awaited by Abkhazia for decades are being implemented – for example, the reconstruction of the airport in Sukhumi has been completed. Among economic development incentives that have proven their effectiveness, Alexander Novak highlighted concessional lending. Since 2023, Russian banks have financed 10 projects totaling 6.6 billion rubles.The “Riviera” hotel, a winery, a container terminal at the port are already operating, and a dairy plant is being prepared for opening. The result of the implementation of these projects was the creation of thousands of new jobs, 700 million rubles per year added to the republic’s budget, and a 7% GDP growth. By the decision of Russian President Vladimir Putin and the initiative of the leadership of Abkhazia, the preferential lending program has been extended until 2030. The total credit limit amounted to 20 billion rubles; in Abkhazia, projects totaling another 6.5 billion have already been prepared—in tourism, construction, and agriculture.In 2026, another significant measure will be launched – preferential lending for small and medium-sized businesses, which will be implemented through Abkhazian banks. The priority will be given to tourism projects, as they are a strategic support for Abkhazia. An important aspect of the republic’s development is transport, without which tourism is impossible. Since May 1 of last year, direct air communication between Moscow and Sukhumi has been restored. During this time, 312 flights have been completed, carrying over 123 thousand passengers. Flights operate from Moscow, Nizhny Novgorod, Saint Petersburg, Khanty-Mansiysk.Programs from Moscow, Nizhny Novgorod, Khanty-Mansiysk, and Perm have been confirmed for this season. Launches of flights from other major Russian cities are being worked out. The forecast for 2030 is more than 1 million passengers per year. In addition, the reconstruction of the Adler automobile checkpoint has begun, costing 3.8 billion rubles, the completion of which will double the checkpoint’s throughput capacity: 14 thousand cars and 80 thousand people per day, which will allow to unload the border and make crossing more comfortable both for tourists and for business. “At the forum, we also discussed creative industries.”And specific agreements have been reached: joint projects, internships, exchange of experience in the fields of fashion, architecture, event tourism. And of course, winemaking. Abkhazia has huge competitive advantages. We discussed with Russian business the promotion of Abkhazian products to our markets, and preliminary agreements already exist,” emphasized Alexander Novak. On the forum field, decisions were signed by the co-chairs of the intergovernmental commissions of Russia and Abkhazia, Russia and South Ossetia.Documents confirm the procedure for implementing preferential lending programs for investment projects within the framework of the relevant state socio-economic development programs.

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