A Potential Tenfold Increase in Russia-Japan Investments in the Next Three Years
Press release, 20.11.2012
Tokyo, November 20, 2012 – Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), participated in a meeting of the Russian-Japanese Intergovernmental Committee on Trade and Economic Issues. The event was chaired by First Deputy Prime Minister Igor Shuvalov, co-chairman of the Committee on the Russian side.
Speaking after the meeting, Kirill Dmitriev said: “We see the possibility of a tenfold increase in our investments with Japanese partners in the next three years. We will begin unlocking this potential in the near future as we are already discussing specific investment plans. Our countries are willing to co-invest in high-tech and in-demand industries. This approach meets the Fund’s main goals to diversify the Russian economy and improve its competitiveness.”
A number of meetings on economic cooperation between Russia and Japan are scheduled on November 20-21 in Tokyo. The meetings will be attended by representatives from the authorities of both countries, as well as by management from major Russian and Japanese companies.
The 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. RDIF’s Management Company is a 100% subsidiary of Vnesheconombank (VEB). Additional information is available at www.rdif.ru
Contacts for additional information:
For the RDIF:
Andrew Hayes/Andrew Leach/Maria Ignatova/Elena Kuza
Tel +44(0) 20 7796 4133