RDIF to establish Russia-Armenia Investment Fund
The Russian Direct Investment Fund (RDIF), a Russian sovereign wealth fund, is establishing the Russia-Armenia Investment Fund alongside the Armenian state-owned company SME Investments.
Through the fund, the partners will jointly search for attractive investment opportunities that will strengthen trade, economic and investment cooperation between the two countries.
The agreement was signed as part of Armenian President Serzh Sargsyan’s official visit to Russia, which will include a meeting with Russian President Vladimir Putin.
This opportunity has arisen following discussions between Minister of Industry and Trade of the Russian Federation Denis Manturov and the Minister of Economic Development and Investments of the Republic of Armenia Suren Karayan, who identified the priority sectors for investment in Russia and Armenia.
Kirill Dmitriev, CEO of the RDIF, says: “We are pleased to welcome our first international partner and co-investor from the CIS. Armenia is one of Russia’s key trade and economic partners in the Eurasian Economic Union. The fund will contribute to the further development of the economies of both countries through implementing projects in such priority sectors as agriculture, industrial production, transport and logistics infrastructure, as well as in technology.”
Artur Badalyan, executive director of SME Investments, says: "We are pleased to create the Russia-Armenia Investment Fund with RDIF. RDIF’s experience in creating international investment partnerships as well as its corporate governance expertise will be indispensable in enhancing the effectiveness of joint Russian-Armenian projects. I am confident that our co-investments will contribute to the further integration of the economies of Russia and Armenia. We will also seek to grow trade volumes and strengthen the already good relations between the two countries."