MOSCOW, October 5. /TASS/. Mutual accumulated investments between Russia and Caspian countries are estimated at almost $30 bln, Russian Economic Development Minister Maksim Reshetnikov said in an interview with Rossiyskaya Gazeta.

"Mutual accumulated investments are approaching $30 bln, with the energy sector accounting for more than 65% of this amount, whereas the remaining part is distributed between engineering, chemical industry and services sector (financial, IT services)," he said. "Kazakhstan and Azerbaijan account for the bulk of investments with over $20 bln. This is a notable amount, but we can hardly say that we have unlocked all the potential as the projects being readied are worth much more. This is industrial cooperation, engineering, the industry of construction materials," the minister added.

Russia's investments in Azerbaijan totaled $6.3 bln as of the beginning of 2022, of which $5 bln was invested in the oil sector, Reshetnikov said, adding that more than 1,000 companies with Russian capital operate in the sector of production and transportation of hydrocarbons, chemical industry, energy, petrochemicals, pharmaceuticals, engineering and cargo shipping.

"As of today, Russia's investments in the oil sector of the Iranian economy amount to $4 bln. There are joint projects in energy and the construction of international transport corridors," the minister said. "Russia is the fifth-largest investor in the Kazakh economy with $6 bln as of early 2022. Around 12,000 companies with Russian capital operate in Kazakhstan, implementing projects in energy, the production and transportation of hydrocarbons, chemical sector and petrochemicals, pharmaceuticals, engineering, IT sector," he noted.

Projects on industrial production, construction, IT technology, supplies of pharma products, and consumer goods could be promising for collaboration between Russian businessmen and Turkmenistan, according to the minister.