The results of the Russian Direct Investment Fund's work, as well as its activities on expanding the potential for investment in infrastructure projects, were discussed at the meeting.
Dmitry Medvedev’s opening remarks:
Meeting on the results and initiatives of the Russian Direct Investment Fund
Meeting on the results and initiatives of the Russian Direct Investment Fund
Meeting on the results and initiatives of the Russian Direct Investment Fund
Meeting on the results and initiatives of the Russian Direct Investment Fund
Dear colleagues,
Today we will be discussing the results of the work of the Russian Direct Investment Fund. Just to remind you, it was registered in January 2012 pursuant to instructions issued a year earlier. In any case, we mulled over it for a long time – I remember how this process went. The Fund started working actively in financial markets at once. It targets strategic investors, including major world companies, and other international direct investment funds. As an agent of the state, the RDIF shares with the other participants not only the profits, but also the risks. Every investment project is scrutinised by experts at the Fund itself and by invited international experts. This enables us (I hope) to manage the assets more effectively, to keep operational control in our hands, which is particularly important for investors who, of course, do not spend all their time in Russia, but follow the Fund’s activities from a distance.
Most of our foreign colleagues welcome the appearance of a reliable partner, a so-called anchor investor. Within a year, about $2.4 billion was co-invested in the Russian economy. On average 1 rouble attracts about 10 roubles – the co-investment coefficient is 1 to 9.7, which is not a bad indicator.
Dmitry Medvedev: “Foreign direct investment funds doubled their investments in Russia from $5 billion in 2011 to $10 billion in 2012. A further $3 billion was invested with the direct involvement of the Direct Investment Fund in joint funds and investment platforms.”
Foreign direct investment funds doubled their investments in Russia from $5 billion in 2011 to $10 billion in 2012. A further $3 billion was invested with the direct involvement of the Direct Investment Fund in joint funds and investment platforms – in the Russian-Chinese Investment Fund with $4 billion worth of capital and in the Russian-Japanese Investment Platform with up to $1 billion of capital. Most of the money will be used to develop the regions of Siberia and the Far East, which is of course one of our strategic goals.
I would like to mention some of the key projects of the Fund that have gained international recognition. They include the purchase of the shares of the Moscow Exchange (nominated as “the deal of the year” in 2012 under one of the versions), participation in the IPO of the Mother and Child project, the acquisition of a controlling stake in Karo Film in a relatively moderate budget segment and some other deals, of course.
Dmitry Medvedev: “Pending before the Fund are more than 50 projects including petrochemistry, agricultural machine building, transport, logistics, and retailing, worth about $10 billion.”
It is important that foreign companies are prepared to bring in massive investments, are ready to invest in the development of new high-tech production and efficient jobs, which is very important for our economy. Pending before the Fund are more than 50 projects including petrochemistry, agricultural machine building, transport, logistics, and retailing, worth about $10 billion. We have some more prospective ideas of where to get additional money and in what amounts.
Meeting on the results and initiatives of the Russian Direct Investment Fund
In general, long-term capital potentially available in the global financial market is estimated at between $6 and 10 trillion. Thus a huge amount of money is up for grabs. In order not to lose out in this competition, we must appear at least as attractive as our rivals. The conclusion is simple: we must continue to work hard to improve the business climate, streamline administrative procedures and get rid of excessive regulation.
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