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Putin: Fund for Direct Investment invests more than 400 bln rubles in Russian economy

The fund had implemented more than ten projects together with counterparts from the China Investment Corporation; Russian President also mentioned fifteen joint projects with an Arab investor

Russian President Vladimir Putin Alexey Nikolsky/Russian President press service/TASS

Russian President Vladimir Putin

© Alexey Nikolsky/Russian President press service/TASS

STRELNA, near St Petersburg, June 18. /TASS/. Russian Fund for Direct Investment and its partners have invested more than 400 billion rubles ($ 7.4 billion) in the Russian economy since the fund's foundation, President Vladimir Putin said on Thursday on the sidelines of the St Petersburg International Business Forum.

"The fund and its partners have already invested more than 400 billion rubles and have drawn $15 billion on the conditions of long-term partnership," he said. "This figure shows a level of mutual trust between strategic investors and the Russian organizations."

Putin said, among other things, that the fund had implemented more than ten projects together with counterparts from the China Investment Corporation.

"Incidentally, a Russian-Chinese investment fund has been set up together with our Chinese partners and it is participating in the construction of the Silk Road infrastructure facilities," he said. Putin recalled that the Silk Road project would be closely integrated with the Eurasian Economic Community and it could become a landmark for the entire Eurasian continent. He also mentioned fifteen joint projects with an Arab investor.

Along with this, the fund’s operations did not confine to attracting foreign capitals to Russia. "The fund is playing a big role in supporting national businesses and particularly the export-oriented companies," Putin said. He indicated this support implied a broad array of patterns. Comprehensive facilitation of projects helped scale down investment-related risks. Putin called attention to the fact all the participants in the meeting linked their activity and future plans to the success of their endeavors in Russia. "This is exactly what I’d like to wish to all of you," he told representatives of the international business community.

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