Russia to pool efforts with foreign partners to solve investment problems – Putin

ITAR-TASS, 29.03.2015

MOSCOW, March 30. /TASS/. Russia will work on solving problems with investments jointly with foreign partners, Russian President Vladimir Putin said at a meeting with head of the Russian Direct Investment Fund Kirill Dmitriev on Monday.

"Problems for partners are linked not only with the fact that some of our markets has been closed, I mean first of all agrarian, but also they stem from the lack of financing, including in the areas our European partners are interested in. No wonder it causes discontent," Putin said. "We will do our best to overcome these problems. I think everyone is interested in it."

Dmitriev, in turn, said foreign investors were also "working with their governments to bring home to them the losses incurred by sanctions on German, Italian, French businesses" and that "they all are against sanctions."

Summing up the results of 2014, Dmitriev said overall investments stood at 180 billion roubles /3.1 billion U.S. dollars/, of which 20 billion roubles /346.4 million U.S. dollars/ came from the Russian Direct Investment Funds and 160 billion roubles /more than 2.7 billion U.S. dollars/ were investments from partners. In all, over the years of its existence, the Fund has attracted 400 billion roubles /more than 6.9 billion U.S. dollars/, of which 165 billion roubles /more than 2.8 billion U.S. dollars/ came to high technology industries and infrastructure projects, more than 40 billion roubles /more than 692.9 million U.S. dollars/ came to Russia’s Far Eastern regions, and more than 25 billion roubles /more than 433 million U.S. dollars/ were used in export-oriented sectors.

Dmitriev said Eastern partners were showing special interest to Russia. "We are actively working with Arab and Chinese partners. Forty percent of the Fund’s investments automatically goes to leading sovereign funds in Arab countries. Chinese partners - the Russian-Chinese Investment Fund in particular has invested 130 billion roubles /more than 2.2 billion U.S. dollars/ and this year we plan more than 200 billion roubles /more than 3.4 billion U.S. dollars/ of investments of the Russian-Chinese fund and partners," he said, adding that up to four billion roubles /more than 69.2 million U.S. dollars/ were expected from Chinese banks.

Dmitriev said that the Asia Pacific region was on the rise and Chinese investors were interested in Russia. In his words, the Fund was currently considering more than 45 projects in various economic sectors.