The Russian Direct Investment Fund plans to significantly increase its investments in infrastructure and high-tech projects. Today, Kirill Dmitriev, the fund's CEO, announced the news at a meeting with Vladimir Putin. The investment growth is a direct result of the executive order signed by the president in May. Interestingly enough, the majority of the funds will be provided by partners and co-investors.
Dmitry Petrov found out who is planning to actively invest in Russia.
In the city of Dhahran, it's 113 degrees outside. Inside, it's cool, and classical music is playing. Mozart, Vivaldi, Grieg, Prokofiev. Led by Maestro Gergiev, the famed Mariinsky Orchestra is performing in the hottest desert in the world. It's a full house. All 900 tickets were sold out several days before the concert.
Valery Gergiev, People's Artist of Russia, Mariinsky Theater general director and artistic director: "It's really great that they built this large, architecturally interesting cultural center here. It's a great honor to perform here".
Dhahran is Saudi Arabia's oil capital. Its first oil reserve was identified here. The headquarters of the largest oil company in the world, which possesses about a quarter of the world's oil reserves, is also located here. The agenda includes the stabilization of the hydrocarbons market and a breakthrough in several areas of Russian-Saudi relations.
The large folder which the Russian Direct Investment Fund CEO brought to President Putin today contains an entire set of projects.
President Putin: It is my understanding that you and your partners are currently working on allocating the next $2 billion dollars on top of projects which are already worth $2 billion dollars.
— Yes.
— And there's $10 billion in total.
Kirill Dmitriev, Russian Direct Investment Fund CEO: Correct. They've earmarked $10 billion. $2 billion has already been invested. In the coming year, we plan to invest another $2 billion with them. For every ruble we invest, our Saudi partners invest 1.5 of their own.
Recently, before the beginning of the World Cup, Vladimir Putin met with Mohammad bin Salman, the Crown Prince of Saudi Arabia, in Moscow. They discussed steps towards the stabilization of oil prices and, hence, the global economy. However, once the opening match between Russia and Saudi Arabia began, everyone was focused on the game. Riyadh is interested in cooperating with Moscow. And, as Kirill Dmitriev said, our partners value Russia's macroeconomic stability. As a result, our economy is becoming more attractive and investments are growing.
Kirill Dmitriev: "We believe that we can get over 7 trillion rubles in investments from our partners and co-investors. That way, they can invest in both infrastructure and technology. Those investments will account for an annual GDP growth rate of 2%, which we believe to be an important number".
Currently, over 70 joint infrastructure and technology projects are being prepared in partnership with some of the largest international companies.
Dmitry Petrov, Irina Kharlamova, Vesti.
