“Investing in regions – Investing in the future” RDIF and Federation Council host major regional investment forum
Moscow, November 7, 2019 – The Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, and the Federation Council of the Federal Assembly of the Russian Federation today hosted the ‘Investment in the Regions − Investment in the Future’ forum.
The forum was a gathering of over 600 participants, including representatives from government and development institutions across 79 of Russia’s federal subjects, domestic and foreign business leaders, and leading international investors.
Speakers at the forum’s plenary session included Valentina Matviyenko, Speaker of the Federation Council of the Federal Assembly of the Russian Federation; Anton Siluanov, First Deputy Prime-Minister – Minister of Finance; Kirill Dmitriev, CEO of the Russian Direct Investment Fund; AndreyVorobyov, Governor of the Moscow Region; Sergei Morozov, Governor of the Ulyanovsk Region; Dr. Erman Ilıcak, President of Ronesans Holding; François Adrianus van Houten, CEO of Royal Philips.
The key focus for the forum was Russia’s socio-economic development and the implementation of the National Projects. National projects create major opportunities for Russian regions while successful implementation of those projects depends in many ways on the regions. RDIF’s representatives, federal authorities and representatives of Russian regions discussed key aspects around implementing the national projects and attracting private capital to foster national development alongside strategic and financial investors.
Attracting investments into Russian regions (which account for over 90% of RIDF portfolio companies’ revenues) is one of RDIF’s main goals. At today’s event RDIF announced the establishment of the National Center for the promotion of investment into Russia’s regions, which will be headed by Alexander Galushka (Minister for the Development of the Russian Far East in 2013–2018). The center will conduct special events to boost the investment profile of the regions, analyze and develop communications with business communities, scientific and educational bodies, industry centers of excellence and to coordinate the activities of organizations attracting investments in the federal subjects across Russia.
At the forum, RDIF’s experts presented new features of the Invest in Russia interactive portal — the leading website on investments in Russian regions (available at https://ru.investinrussia.com/). A new online tool - “Governor’s account” will enable users to apply to RDIF online, receive advice and utilize a number of other features to communicate with the Fund.
RDIF also took the initiative to create a Regional Project Development Fund by allocating a subsidy from the federal budget with its subsequent compensation from regional budget revenues generated by the additional tax revenues from implemented investment projects. Each project within the fund will have to first receive confirmation from RDIF and partners willing to invest in it with subsequent approval by the Ministry of Finance of the Russian Federation.
Valentina Matviyenko, Speaker of the Federation Council of the Federal Assembly of the Russian Federation, said:
“The Federation Council and the Russian Direct Investment Fund have established close cooperation. We are implementing a jointly signed Memorandum of Cooperation. A good example of our work is the Fund’s participation in the Days of Russia’s regions held at the Federation Council, as a result of which we have received over 130 applications for financing regional projects. I urge representatives of the regions and republics across Russia to take a more responsible, attentive and sensitive approach to working with investors. And, of course, the regions should work closely with the Russian Direct Investment Fund, making effective use of the mechanisms and opportunities offered by the Fund, and actively deploying new investment tools.”
Anton Siluanov, First Deputy Prime-Minister – Minister of Finance, said:
“We are talking to the Russian Direct Investment Fund, which receives part of the NWF’s funds, about investing in more regional projects. We need major projects, but we also need smaller ones that drive economic growth, including regional GDP. We are talking about stimulating Russian regions to increase investment activity. We work in a single aim, namely, to achieve the national goals set by the President”.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:
“Under the instruction of the President RDIF acts as an investment filter for the selection, structuring and implementation of investment projects in the framework of national projects. We actively cooperate with the regions to increase the efficiency of the work on these projects. RDIF operates across Russia’s regions attracting investments from leading international partners in logistics, energy, agriculture, manufacturing, etc. We recognise the high interest from foreign investors in participating in the implementation of National projects. In this regard, the Forum was a platform for insightful and fruitful discussions, which we hope, will help lay the foundation for new projects and investments in the Russian Federation in the future”.
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 RUB1.5tn 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 $40bn. Further information can be found at rdif.ru
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Arseniy Palagin Maria Shiryaevskaya / Andrew Leach
Russian Direct Investment Fund Hudson Sandler
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