RDIF to get right to invest without foreign partners, only with Russian investors - Dmitriev
DAVOS. Jan 22 (Interfax) - The Russian Direct Investment Fund (RDIF) will receive the right to invest money without foreign partners and with Russian investors only, the fund's chief, Kirill Dmitriev, said during the Strategic Outlook on Russia session at the Davos forum.
"Given that it is important to increase investment by Russian investors in the country's economy, a decision has been reached that the RDIF can invest not just with foreign partners but also with Russian partners alone for projects approved by the RDIF supervisory council," he said.
"We consider this will make it possible to significantly boost investment by Russian companies also, including in national projects in Russia, and accordingly the RDIF will also be able to invest without foreign investors, although it will certainly continue to attract foreign investors," he said.
Dmitriev said back in March last year that several large Russian financial groups had approached it with a view to setting up a separate fund to invest in national projects. "Businesses also want to invest in the national projects and see the possibility of co-investing together with us," Dmitriev said.
The RDIF is in talks with government officials on the creation of two closed-end mutual funds aimed at encouraging Russian business to invest in national projects, several sources close to the talks told Interfax at the end of December. According to the creators of the idea, this mechanism would make it possible to significantly increase the total volume of Russian partners' investments in projects in various industries and increase the mobility of capital, taking into account the great demand for it in the financial market.