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Russian wealth fund to sign 10 agreements worth $1.3 bln within Putin’s visit to UAE

Agreements will be signed in such sectors as high technologies, healthcare, mineral production, logistics, and manufacturing

Russian Direct Investment Fund CEO Kirill Dmitriev Stanislav Krasilnikov/TASS

Russian Direct Investment Fund CEO Kirill Dmitriev

© Stanislav Krasilnikov/TASS

MOSCOW, October 15. /TASS/. Russian Direct Investment Fund (RDIF) plans to ink ten investment agreements worth over $1.3 bln as part of the visit of President Vladimir Putin to the United Arab Emirates (UAE) with partners, including the country’s sovereign fund, Mubadala Investment Company, RDIF said in a statement on Tuesday.

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Agreements will be signed in such sectors as high technology (including the development of Artificial Intelligence), healthcare, oil & gas, logistics and industrial production, the Fund noted.

"Russia and the United Arab Emirates have much to offer each other through the exchange of technology and investment. The visit of Russian President will help maintain intensive business contacts in various areas of bilateral cooperation. Our countries are successfully developing partnerships in trade, energy, industry, tourism, and even in such a specialized field as the training of cosmonauts. We have established partnerships not only on Earth, but also in space - the potential for further cooperation is truly unlimited," Chief Executive Officer of RDIF Kirill Dmitriev was quoted as saying.

The Fund is one of the organizers of a meeting of business leaders from the two countries that will discuss during the visit opportunities for expanding cooperation, increasing its efficiency and implementing joint projects.

In six years of successful cooperation between RDIF and Mubadala Investment Company, investments worth more than $2 bn have been made and approved in more than 45 projects.

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