"The main goal of the Memorandum is to develop cooperation in various sectors of the economy, such as investments into real estate and construction projects, banking, medicine, tourism and the hotel business in Russia, the CIS and United Arab Emirates," Sistema said on its website.
The two companies will jointly invest in telecom and oil and gas projects and their subsequent management and attract investment funds in venture projects for developing new technology.
Sistema and DAS Holding are also set to create crisis management centers and an information center on geological resources for potential investors.
AFK Sistema incorporates telecom, high technology, insurance, real estate, retail trade, media, banking and venture companies. In addition, the company is developing business in tourism, technology, pharmaceuticals and bio technology. The company's shares are floated on the London Stock Exchange and Russia's MICEX and RTS bourses.
DAS Holding is based in Abu Dhabi and is one of the largest and most dynamic investment holding companies in the UAE. The company describes itself as an innovative business incubator with an unsurpassed reputation for "its uncompromising quality and innate professionalism."
