RDIF and Republic of Karelia sign investment cooperation agreement
Moscow, 19 May 2015 — The Russian Direct Investment Fund (RDIF) and the Government of the Republic of Karelia have signed a cooperation agreement to develop a favourable investment climate in the region and attract foreign investment to local projects. The document was signed by Head of the Republic of Karelia, Alexander Khudilainen, and CEO of RDIF, Kirill Dmitriev.
Under the agreement, the parties will provide business advice and legal support, and exchange information to implement investment projects in Karelia. Additionally, RDIF will also support the republic in attracting foreign investors by placing detailed information about investment projects in the region on the Invest in Russia portal (ru.investinrussia.com).
The parties are already discussing the possibility for joint investment in the region. The most attractive sectors include the creation and reconstruction of transport infrastructure, as well as projects in the energy, tourism, agricultural and fishing industries.
Kirill Dmitriev, Chief Executive Officer of the Russian Direct Investment Fund (RDIF), said:
“The Government of the Republic of Karelia is dedicated to improving its investment climate. I am confident that international investors will appreciate the region’s considerable scope for development. There are number of attractive opportunities in the growing agriculture and tourism sectors as well as mining and forestry. The republic, which farms more than 70% of Russia’s trout, also has unique conditions for the development of the fishing industry.”
Akexander Khudilainen, Head of the Republic of Karelia, said:
“Our priority is to increase the region’s appeal to investors by creating a better investment climate in the republic. The region is supporting investment by providing incentives and benefits for investors. The scheme is already making good progress with potential investors showing greater interest in the region. This agreement with RDIF will enable us to not only create further investment opportunities, but also to develop robust infrastructure for attracting international investors. We believe that with the Fund’s partnership we can reach the highest international standards.”
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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