Russia’s Direct Investment Fund opens office in Vladivostok

ITAR-TASS, 02.07.2013

The Far Eastern Branch of the Russian Direct Investment Fund (RDIF) started its activity in Vladivostok on Monday, July 1.

While addressing the ceremony, he said, “The Fund has got sufficient resources for its own investments. An additional capitalization of the fund in 2012 only made it possible to reserve about 25 billion rubles [USD 1 = RUB 32.85] for financing projects in the Far East,” Russian First Deputy Prime Minister Igor Shuvalov said at the opening ceremony.

Shuvalov said the Fund’s major task was to attract reliable and long-term foreign investors to the region and that the Russian Direct Investment Fund, Vneshtorgbank and the Far Eastern Development Fund would become a local group, which would work on large projects.

According to Governor of the Primorye Territory Vladimir Miklushevsky, already now the territory is ready to offer a whole range of large projects for investments.

“They include the Sollers car-making facility, the modernization of the Progress plant in the city of Arsenyev, the construction of a shipyard in the city of Bolshoi Kamen and a plant for the production of liquefied natural gas,” the governor said.

In his words, the opening of new industrial floors is another important sphere for drawing investments to the region. An industrial cluster for the production of construction materials is planned to be set up at one of such floors. Its products will be used for implementing large and promising construction projects.

The opening of the Far Eastern office of the Russian Direct Investment Fund in Vladivostok is a result of cooperation agreement, which was signed between the Fund and the administration of the Primorye Territory on the sidelines of the APEC summit in the autumn of 2012.