The funds said they implemented the initiatives to pursue attractive investment projects that will promote economic, trade and investment cooperation between Japan and Russia. The process of formalising the fund’s establishment is complete, the funds said, and the investment team have already begun a detailed analysis of priority projects.
Currently, the deal pipeline extends to various industries such as healthcare, chemicals, metals and services; several deals are due to be finalised in the near future, the funds said in a statement.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said: “The joint fund between RDIF and JBIC’s will attract FDI into the Russian economy via collaboration with large Japanese companies and banks. The Fund’s initiatives will not only help to diversify Russian-Japanese trade and economic ties, but will also help to develop progressive technologies and further strengthen the identified industries.”
The Memorandum of Understanding (MoU) between RDIF and JBIC – through which each party has committed 500 mln usd – was signed in December 2016, during the official visit of Russia’s president, Vladimir Putin, to Japan.
Priority sectors identified for cooperation include healthcare: the development of comfortable and clean cities, energy, cutting-edge technologies; developing industries and export bases in the Russian Far Eastern District – as well as other initiatives anticipated to strengthen trade and economic relations between the two countries.