Second meeting of B20 Investment and Infrastructure task force took place at Davos forum
Moscow, January 24, 2013 – The B20 task force on Investment and Infrastructure met on Wednesday January 23 at the World Economic Forum in Davos (Switzerland). The meeting continued the work of the B20 during the 2013 Russian Presidency of the G20.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), chaired the meeting, following which new co-chairmen of the task force were elected: Marcus Wallenberg, Chairman and CEO of Skandinaviska Enskilda Banken (SEB), and Hans Paul Buerkner, President and CEO of The Boston Consulting Group.
Participants were presented with the results of the work undertaken by four subgroups of the task force which covered the topics of investment climate, infrastructure and public private partnership, quality of investments and attractive investment returns and sustainable and profitable green investments.
Kirill Dmitriev said: “Our discussion focused on economic growth and on ways investment, especially investment in infrastructure, can facilitate growth. We have taken the groundwork done by our four subgroups as a foundation for future discussions and agreed to continue dialogue over specific measures to improve the global investment climate at our next meeting in Berlin on 5-6 March.”
Ksenia Yudaeva, G20 Sherpa of the Russian Federation, opened the meeting, which among its participants included leading investment funds and companies of the G20 countries, including China Investment Corporation, Kuwait Investment Authority, European Bank for Reconstruction and Development, SUN Group (India), Abbott Laboratories (USA), Alcoa (USA), Coca-Cola (USA), Crescent Petroleum (Saudi Arabia), Nestle S.A.(Switzerland), SIBUR (Russia) and Repsol (Spain),as well as Boston Consulting Group, Ernst & Young, KPMG and McKinsey. Business associations of the G20 countries also participated in the meeting, represented by the Russian Union of Industrialists and Entrepreneurs (RSPP), Germany’s Committee on Eastern European Economic Relations and the U.S. Chamber of Commerce.
The first meeting of the B20 Investment and Infrastructure task force was held on December 12 in Moscow. Its next working meeting is scheduled for March 5-6 in Berlin, with further discussions planned at a B20 Summit at the St Petersburg International Economic Forum on June 20-21. The final recommendations of the B20 task forces will then be presented to the G20 political leadership on September 5-6 at a summit in St Petersburg.
Business Twenty (B20) is a forum for the leaders of G20 business circles. Traditionally, the work on business community proposals to G20 leaders has been coordinated by the most reputable business association of the country currently presiding over the G20. As part of the Russian presidency, the Russian Union of Industrialists and Entrepreneurs (RSPP) has been entrusted with this right. www.b20russia.com
Russian Direct Investment Fund (RDIF) was established in June 2011 to make equity investments primarily in the Russian Federation. RDIF’s management company is a 100% subsidiary of Vnesheconombank. 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.www.rdif.ru Additional information
Contacts for additional information:
For the RDIF:
+7 964 7261773
For Investment and Infrastructure task force:
+7 967 0989517
Andrew Hayes/Andrew Leach/Maria Ignatova/Elena Kuza
Tel +44 (0) 20 7796 4133