RDIF and RСIF to construct Russian-Chinese high-tech parks
Moscow, October 13, 2014 - The Russian Direct Investment Fund (RDIF), Russia-China Investment Fund (RCIF), the Skolkovo Fund, and the People's Government of Shaanxi Province (China) have signed a memorandum for the co-development and construction of “Silk Road” Russian-Chinese high-tech parks, centres of innovation in science and technology. The agreement was signed in the presence of Russia’s Prime Minister, Dmitry Medvedev, as well as Li Keqiang, the Prime Minister of the State Council of the People's Republic of China.
Under the agreement, RCIF and the Administrative Committee of Xixian Fendong New Town of Shaanxi Province will establish a joint venture for the construction of Silk Road high-tech parks in China and Russia.
The high-tech park in China will be located in the new town of Xixian Fendong of the Shaanxi Province ("the New Zone of Xixian") and will initially occupy four square kilometres.
The Russian high-tech park will be located in the Skolkovo Innovation Centre in Moscow and in its first stage will initially comprise up to 200 thousand square meters of buildings. The Russian high-tech park will be focused on science research and will have manufacturing capability in case any sites are opened in regional free trade zones.
It is expected that in the medium and long term, the Chinese high-tech park will open offices in cities and regions such as Beijing, Shanghai, Guangdong and Heilongjiang, while the Russian park will open offices in Kaliningrad, Vladivostok and the Republic of Tatarstan. The parties also plan to open offices in the BRICS countries in the future.
In turn, the Russian Direct Investment Fund, as the organization chairing the Russian contingent of the Intergovernmental Russian-Chinese Commission for Investment Advisory Committee, will support the inclusion of high-tech park project in the commission’s ongoing work. RDIF also plans to support the work of the Russian high-tech park in attracting high-tech companies from China and Russia and to promote the parks to leading international companies.
Kirill Dmitriev, CEO of RDIF, and co-CEO of RCIF, said:
“High-tech parks have already proven their commercial and economic worth in many countries by encouraging high technology development and advancing scientific knowledge. The unique aspect of this project lies in the fact that it will benefit from the leading expertise of both countries as well as creating a network of sites across various regions. This will increase the effectiveness of collaboration between leading Russian and Chinese companies and consequently this expertise will be extended to other BRICS countries in due course.”
Hu Bing, co-CEO of RCIF, said:
“We are delighted to be working with RDIF on the development of science parks across China and Russia, which will facilitate scientific and technological progress in both countries. The exchange and sharing of ideas, encouraged by this partnership, will underpin the driving forces of entrepreneurship and economic competitiveness. This in turn will support both economies, allowing China and Russia to stay at the forefront of global scientific innovation.”
Victor Vekselberg, Prsesident of Skolkovo Foundation, said:
“Certainly, signing of the agreement on establishing a Russian-Chinese High-Tech Park at Skolkovo Innovation Center is an important milestone in the history of our project. Moreover, the today’s event is a bright example of the fact that Russia and China are entering an epoch of wide-scale cooperation in innovation. I am sure that the Park will be home for R&D Centers of the leading technological corporations from China and it will be a venue for fruitful cooperation between scientists as well as entrepreneurs from Russia and China.”
Jiang Zelin, Deputy Governor of Shaanxi Province of People’s Republic of China, said:
“Chinese President Xi Jinping's proposal to build a Silk Road Economic Belt has presented a strategic opportunity for Shaanxi Province - the starting point of ancient Silk Road. Sino-Russian Silk Road High-tech Park will be beneficial to Shaanxi by positioning the province as the new starting point of Silk Road Economic Belt and promoting, especially, bilateral investment and resources sharing between Russia and China. Shaanxi Province do support Xixian Fendong New Town, RDIF, RCIF and SK Foundation to co-build the Project, as a flagship project along the Silk Road with most comfortable conditions for doing business and developing high-tech projects.”
Russia-China Investment Fund (RCIF) is a private equity fund investing in unique opportunities which have appeared as a result of rapid development of economic cooperation, fast growing trade, and increasing purchasing power of the middle class in Russia, China and CIS countries. The Fund was created by the Russian Direct Investment Fund (RDIF) and China Investment Corporation (CIC). RCIF are most focused on cross-border transactions, as well as investment opportunities within the economic region across a broad range of sectors to facilitate both countries’ structural reforms and economic efficiency. Further information at www.rcif.com
Russian Direct Investment Fund (RDIF) was established in 2011 to make equity co-investments, primarily in Russia alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. Based in Moscow, RDIF’s management company is a 100% subsidiary of Vnesheconombank. Further information at rdif.ru
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