RIYADH, October 26. /TASS/. Further investment cooperation between Saudi Arabia and Russia were in focus of a meeting Saudi Crown Prince Mohammad bin Salman Al-Saud had with Director of the Russian Direct Investment Fund (RDIF) Kirill Dmitriyev on the sidelines of the Future Investment Initiative forum, according to documents released following the meeting.
In 2015, the Russian Direct Investment Fund and Saudi Arabia’s Public Investment Fund (PIF) announced their plans to invest ten billion US dollars in Russian projects. As of today, RDIF and PIF have set up two funds of one billion US dollars each to invest in technology and energy projects.
Mohammad bin Salman, who is also the Public Investment Fund Chairman, initiated an ambitious roadmap of economic reforms, Saudi Vision 2030, which envisages lavish investment worldwide.
At the Future Investment Initiative conference, Saudi Arabia announced a project for the construction of an ultra-futuristic megacity Neom on the Red Sea coast.