RDIF attracting investments to high-growth sectors of the Russian economy, Prime Minister Dmitry Medvedev says
Yekaterinburg, 12 July 2012 – Speaking at the plenary session of the International Exhibition and Forum of Industry and Innovations INNOPROM-2012, Russian Prime Minister Dmitry Medvedev highlighted the role of the Russian Direct Investment Fund (RDIF) in attracting investments to the Russian economy. While discussing the opportunities for modernizing industry in Russia, the prime minister noted that Russia is developing favorable conditions for the growth of a high technology sector of the economy.
Mr. Medvedev commented, “The Russian Direct Investment Fund has begun to operate. To date it has made investments totaling around one billion dollars, while attracting co-investments approximately four times its own invested funds.”
The Prime Minister also noted that the Russian government has set a goal of raising the share of investment in the country to 25% of GDP by 2015, including by significantly increasing foreign investment.
Russian Direct Investment Fund (RDIF), established in June 2011, is to be capitalized with $10 billion in Russian government funds to make equity investments that generate strong returns. In each investment it makes, RDIF is mandated to secure co-investment that as a minimum matches its commitment, thus acting as a catalyst for direct investment into the Russian economy. Kirill Dmitriev has been Chief Executive Officer of RDIF since the fund’s inception. Additional information is available at www.rdif.ru.