Kirill Dmitriev and Laurent Vigier address Sochi International Investment Forum and Prime Minister Dmitry Medvedev on Russia’s investment attractiveness and how to increase liquidity on the Russian stock market
Sochi, 21 September 2012 – Representatives of the Russian Direct Investment Fund (RDIF) have taken part in the 11th Annual Sochi International Investment Forum.
Chief Executive Officer of the RDIF Kirill Dmitriev spoke during a meeting of Prime Minister Medvedev with leading Russian businesspeople held as part of the Sochi Forum. Mr. Dmitriev emphasized that the importance of increasing liquidity on the Russian market and expanding the number of instruments available for investment by the Russian pension system.
“Firstly this includes infrastructure bonds, that could be used to finance development of the Far East and existing companies. Infrastructure bonds are an attractive and accessible instrument for investors,” Mr. Dmitriev said. “A second instrument is index funds that would provide opportunities to invest not just in individual companies but the entire Russian market. Thirdly, we need to look at the opportunity to invest a large part of the pension system in Russian companies whose shares are traded on the united Moscow Exchange.”
Laurent Vigier, a member of the RDIF Supervisory Board and Director of European and International Affairs at Caisse des D?p?ts Group, participated in the plenary session of the Forum, “Competitiveness: a Question of Growth or Survival”, which featured an address by Prime Minister Medvedev. Mr. Vigier presented on Russia’s attractiveness as a destination for foreign investment.
“Today, Russia distinguishes itself from many western countries with its low levels of external debt and unemployment and its considerable foreign exchange reserves, the world’s third largest. This allows investors to expect a sufficiently stable macroeconomic situation, regardless of international financial volatility. I know the Russian government is taking a number of concrete measures to increase the competitiveness of the Russian economy. It has created special instruments to improve Russia’s investment attractiveness, one of which is the RDIF,” said Mr. Vigier.
Mr. Dmitriev and Mr. Vigier also participated in the panel discussion, “What Institutional Changes do Foreign Investors Demand?” They spoke about the factors necessary to convince major companies and funds to invest in the Russian economy.
Russian Direct Investment Fund (RDIF), established in June 2011, is to be capitalized with $10 billion in Russian government funds to make equity investments that generate strong returns. In each investment it makes, RDIF is mandated to secure co-investment that as a minimum matches its commitment, thus acting as a catalyst for direct investment into the Russian economy. Additional information is available at rdif.ru.
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