Russian Investment Agency is opening a regional office in Dubai
On the 31st of March 2015 during AIM (Annual investment forum in Dubai) the Russian Investment Agency “Invest in Russia” (hereinafter “RIA”) and the Russian Business Council in the Middle East and Africa (hereinafter “CPR”) have signed an agreement. The signatory from RIA was Chief Executive Officer Yury Voicehovsky and from CPR – Chairman of the Presidium of the Council Igor Egorov.
The Agreement provides for establishing a joint office for ongoing work with investors from the Middle East in order to attract investments into the Russian economy. It is envisaged that the office will also serve as representative office of regional Investment Promotion Agencies from the Russian Federation. Besides, the agreement provides for implementing joint projects in the UAE.
“Opening our first office abroad is a very important step in the development of our Agency. The fact that we are opening it in Dubai underlines the importance that we attach to this region. We see the prospect of cooperation in many areas” – said YuryVoicehovsky. Mr. Voicehovsky added that RIA is as well considering the possibility of opening its offices this year in Singapore, Hong Kong and Cyprus.
During the visit, negotiations took place with the UAE Minister of Economy Sultan Bin Saeed Al Mansouri, with heads of investment agencies, Middle Eastern sovereign and private investment funds and companies.
“In this trip we brought a number of new proposals and financial instruments that we have developed specifically for investors from this region, taking into consideration their wishes and priorities identified through our dialogue with them. These proposals also take into account the current situation on the international financial markets. We see that this approach has found a good response from our partners. We plan to establish a new platform under the auspices of our Agency, in collaboration with institutional investors from Russia and the UAE that will implement joint co-investment strategies in such areas as the agricultural sector, the real estate sector, chemicals, petrochemicals and others. We are negotiating with investors from the Middle-eastern region on their participation in agricultural fund, bond fund and special situations fund, etc.” said Yury Voicehovsky.
Igor Egorov noted the importance of creating the office of the Agency in the Middle East. “The appetite for investments is very high now. Arab funds and private investors are looking for opportunities for reliable and profitable investment. But Russia is not the only market in the world, competing to attract investors. Therefore, a systematic approach, a permanent presence in the region, a portfolio of understandable for local partners investment projects – are the necessary steps that we are implementing together with the Russian Investment Agency.
Within the AIM forum the Russian project on Integrated development of the territory of the Taman Peninsula (Krasnodar region) elaborated by the Investment Group “Trinfiko” has been nominated for the AIM annual investment award.
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