RDIF and the Far East Investment and Export Agency join efforts to promote Far Eastern projects
Moscow, October 9, 2018 - The Russian Direct Investment Fund (RDIF), the sovereign wealth fund of Russia, and the Far East Investment and Export Agency have agreed to join forces to identify and implement investment projects in the Far Eastern regions of Russia. A corresponding agreement was signed today during the "Investing in Regions − Investing in the Future" Forum.
The agreement sets out that RDIF and the Far East Investment and Export Agency will coordinate their efforts to attract investment in companies in Russia’s Far Eastern regions. Their work to attract investment will involve employing international best practice and combine the efforts and resources of federal and regional development institutions. RDIF and the Far East Investment and Export Agency intend to support investment projects that are on track to meet deadlines, use their resources to deliver effective results and limit bureaucracy.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), noted:
“RDIF forms partnerships with world leading sovereign and investment funds. As a result, it is able to provide not just capital, but world class expertise. The Far East Investment and Export Agency, in turn, has excellent capabilities to analyse and monitor projects firsthand, enabling us to directly obtain objective information. Our cooperation will benefit both investors and the Far Eastern regions. It will significantly increase the volume of investment attracted to the region.”
Leonid Petukhov, CEO of the Far East Investment and Export Agency, said:
“There have been created unique opportunities for launching new projects and expanding an already established business in the Russian Far East. These are the ASEZ, the Free Port of Vladivostok, the state targeted support of investment projects. Our Agency support projects from the discussion stage to the launch of new enterprises. It includes search for sites for placement, analysis on the use of modes, attracting new partners. The Far East is open to both Russian and foreign entrepreneurs. Thanks to new business support mechanisms, large projects from various countries began to realize in the Far East: China, Korea, Japan, India and Vietnam. Investors see that implement projects in the Far East is profitable and promising. We offer some of the best conditions in the Asia-Pacific region. I am sure that the unique expertise of RDIF which attracted more than RUB 1.3 trillion of investments during 6 years, will help us to implement the most bold initiatives. ”
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
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
Andrew Hayes / Andrew Leach
Tel: +44 (0) 20 7796 4133