RDIF, Hainan FTP RSC Group agree on partnership to support Russian cos on Chinese market
BEIJING. Sept 2 (Interfax) - The Russian Direct Investment Fund (RDIF) and Hainan Free Trade Port Resort Software Community Group have agreed on a partnership to support Russian companies trying to enter the Chinese market and scale up their presence in the region, it was announced during President Vladimir Putin's visit to China.
Under the partnership, the RDIF and Hainan FTP RSC Group will consider the possibility of jointly establishing a center for industrial and trade cooperation on Hainan geared toward Russian companies, the fund said. The new center will make it possible to take advantage of the Hainan Free Trade Port to offer Russian businesses integrated services and infrastructure to implement international projects, the press release said.
The RDIF and Hainan FTP RSC Group will also provide support for Russian companies to implement investment projects at the Hainan Ecological Software Park and in other regions of China. Russian investors will be offered access to legal, tax and administrative services, as well as government support measures, which will make it possible to take advantage of local infrastructure, the fund said.
In addition, the RDIF, the National Coordination Center for International Business Cooperation (NCC) and the Sichuan Association in Russia and the CIS have agreed on a partnership to implement joint investment projects in Russia and China. This was also announced during Putin's visit to China.
The NCC and Sichuan Association plan to study markets, help identify suppliers and consumers in both countries, and provide logistical support. The RDIF will bring in its portfolio companies and international co-investors to realize the investment opportunities.
"Together we will focus on such promising sectors as infrastructure, high-tech manufacturing and electronic commerce, while simultaneously creating a new forum for dialog and cooperation," RDIF head Kirill Dmitriev said in the press release.
