RDIF and Russian Agriculture Ministry to cooperate to attract further overseas investment into the Russian agricultural sector
Saint Petersburg, 2 June 2017 – The Russian Direct Investment Fund (RDIF), a sovereign fund of the Russian Federation, and the Ministry of Agriculture of the Russian Federation have agreed to work together to attract further overseas investment into the Russian agricultural sector. A memorandum of intent was signed today by Mr. Alexander Tkachev, Russian Agriculture Minister, and Mr. Kirill Dmitriev, RDIF’s CEO, as part of the Saint Petersburg International Economic Forum.
RDIF and the Russian Agriculture Ministry will work together to jointly identify and act on promising opportunities in agriculture. This will be achieved by shortlisting projects in order of priority and then analyzing investment potential among other things. A project platform will be created to review and select relevant projects and then bring in international partners.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:
“Agriculture may be underestimated, but it is still one of the most promising sectors of the Russian economy. Attracting investments into the sector is one of our priorities and we have seen great interest from international investors. It will be crucial to provide as many investment opportunities as possible and provide them with the tools to invest in order to give a boost for the sector’s development. RDIF will be increasing its allocation to agricultural projects to around 30% of the Fund’s portfolio in the near future. Cooperating with the Russian Agriculture Ministry will help us achieve this.”
Alexander Tkachev, Minister of Agriculture of the Russian Federation, said:
“The signing of this document consolidates our intentions to work together to find and promote agricultural investment projects that would meet the current needs of the Russian agrarian sector and contribute to the growth of Russia's trade, economic and investment potential. I am confident that by joint efforts we will be able to increase the attractiveness of the Russian agricultural sector for foreign investors.”
Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund 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. RDIF’s management company is based in Moscow. Further information can be found at www.rdif.ru
For additional information contact:
Russian Direct Investment Fund
Director of External Communications
Tel: +7 495 644 34 14, ext. 2141
Mobile: +7 964 726 17 73
Andrew Hayes / Yulianna Vilkos
Tel: +44 (0) 20 7796 4133