RDIF will participate in Russian President V. Putin’s state visit to the Kingdom of Saudi Arabia

Press release, 10.10.2019

Moscow, October 10, 2019 - A delegation from the Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, led by CEO Kirill Dmitriev will participate in Russian President Vladimir Putin’s state visit to the Kingdom of Saudi Arabia on October 14, 2019.

During the visit, RDIF will announce more than ten important agreements with both existing and new partners in Saudi Arabia in the areas of high technology (including the development of Artificial Intelligence), space cooperation, logistics, transport, infrastructure construction, oil production and petrochemicals, as well as agriculture totaling more than $2 bn.

Together with colleagues from KSA, RDIF also organises the Russia-Saudi Investment Forum, which will bring together more than 300 participants from both countries. The Forum will be attended by the largest and most representative delegation of Russian entrepreneurs in the history of Russia-Saudi relations.

In addition to a strong business theme, a number of cultural events are planned jointly with the Ministry of Culture of KSA during the visit within the framework of a programme under the general title of Russian Culture, which will open on October 14th. Major events and exhibitions will be held at The King Fahd Cultural Centre, the largest venue for cultural events in the capital of the Kingdom of Saudi Arabia.

An international exhibition of contemporary art, created with the help of artificial intelligence (AI) technology (“Artificial Intelligence and Intercultural Dialogue”) will be held at the Centre. The exhibition was first held in the State Hermitage Museum’s General Staff Building in St. Petersburg in June 2019. Leading artists from 10 countries embracing this approach are taking part in the exhibition, including the Russian academic Konstantin Novoselov.

The State Russian Museum is presenting 19 paintings by the world-famous founder of abstract art Wassily Kandinsky. These works will be presented for the first time in the Middle East.

RDIF also plans to sign an historic culture agreement with the Ministries of Culture of the Russian Federation and the KSA.

Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:
“The levels of friendship and mutual respect between Russia and Saudi Arabia have reached an unprecedented high level. Our countries are successfully building cooperation in every field. The historic visit of the Russian President to KSA will further strengthen the economic, business and cultural ties. The historic visit of the Russian President to KSA will further strengthen economic, business and cultural ties. The Russian Direct Investment Fund is strongly committed in these areas. We are convinced that we can mutually enrich our countries and peoples, directing efforts in investment to key high-tech projects, ensuring energy security, improving the standard of living of citizens, as well as strengthening cultural interaction and humanitarian contacts.”

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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. Currently, RDIF has experience of the successful joint implementation of more than 70 projects with foreign partners totaling more than RUB1.5 tn and covering 95% of the regions of the Russian Federation. RDIF portfolio companies employ more than 800,000 people and generate revenues which equate to more than 6% of Russia’s GDP. RDIF established joint strategic partnerships with leading international co-investors from more than 15 countries that total more than $40 bn. Further information can be found at www.rdif.ru

For additional information contact:
Arseniy Palagin
Russian Direct Investment Fund
Press Secretary
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
E-mail: arseniy.palagin@rdif.ru

Andrew Leach / Maria Shiryaevskaya
Hudson Sandler
Tel: +44 (0) 20 7796 4133