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Russian-Saudi joint investments may amount to $200 bln

According to head of the Russian Direct Investment Fund Kirill Dmitriev , Russia's national development goals are in many ways similar to the similar Saudi Vision-2030 program

© AP Photo/Amr Nabil

MOSCOW, October 28. /TASS/. The implementation of national projects in Russia creates great opportunities for investment worth $200 bln in a number of sectors of the economy in partnership with Saudi Arabia, head of the Russian Direct Investment Fund (RDIF) Kirill Dmitriev said in an interview with TASS following the official visit of the Russian President to Saudi Arabia and the UAE.

"We believe that the implementation of national projects in Russia creates excellent opportunities for investment in a portfolio of projects worth over $200 bln in a number of industries. The RDIF, which acts, by the order the President, as a tool for the selection, structuring and implementation of national projects, constantly offers interesting projects with attractive level of yield to Saudi partners," he said.

According to Dmitriev, Russia's national development goals are in many ways similar to the similar Saudi Vision-2030 program.

"The joint implementation of these programs will help support economic growth and transform national economies. Working with the largest companies in the Saudi market will provide not only investment in the Russian economy, but an exchange of experience and expertise," Dmitriev said.

He stressed that in working with Saudi partners, projects in the field of high technologies, including artificial intelligence technologies, are most interesting.

"RDIF is actively collaborating with PIF (the Public Investment Fund, the sovereign fund of Saudi Arabia - TASS) in this area. We are intensively working on a number of oil and gas chemical projects," he concluded.

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