Russian Direct Investment Fund invests over $4.3 bln into national economy in 11 months

TASS, 05.12.2017

The fund invited leading partners from China, Japan, Singapore, Europe and the United Arab Emirates to invest into technology projects

NOVO-OGAREVO, December 5. /TASS/. The Russian Direct Investment Fund (RDIF) in cooperation with partners already invested over 250 bln rubles ($4.3 bln) into the national economy in 11 months of this year, Chief Executive Officer of the Fund Kirill Dmitriev said on Tuesday at the meeting with President Vladimir Putin.

"As you are aware, we focus on investments into infrastructural projects with a significant multiplication effect for other sectors of the economy, regional projects that improve revenues of regional budgets and diversification projects for the Russian economy, including focusing on technology projects," the RDIF CEO said.

The Russia-Japan investment fund, where the RDIF is acting as the founder of the fund together with Japan’s JBIC, invested into Russian oil pipelines operator Transneft, Dmitriev said.

"Owing to your support, the Russia-Japan investment fund started active operations and very quickly made first three investments, including the investment into Transneft. We believe this is a very important investment of our Japanese partners and appreciate your support of the Russia-Japan fund," the chief executive said. "They invest into development of the company and believe in growth of Transneft’s capitalization," Dmitriev said.

The RDIF also proactively works on an increase of investments into the technology sector, having created a special purpose vehicle for this purpose, Dmitriev said.

"We invited leading partners from China, Japan, Singapore, Europe and the United Arab Emirates, which will invest into technology projects in cooperation with us," he said.

"In particular, we will announce shortly investments into Yandex.Taxi company, investments into a series of our Internet portals for expansion of their overseas operations, and investments with Alibaba into the logistical infrastructure of the Internet in Russia," Dmitriev said.