President of Russia Vladimir Putin: Mr Dmitriev, we meet fairly often but nonetheless I know that you have prepared a report on your results for almost a year.
Russian Direct Investment Fund CEO Kirill Dmitriev: Yes, for 11 months…
Vladimir Putin: Go ahead please.
Kirill Dmitriev: Mr President, during the past 11 months, together with our partners, we invested over 250 billion rubles in the Russian economy. As you know, we focus our investment on infrastructure projects that produce a tangible multiplier effect on other economic sectors, regional projects that increase the revenues of regional budgets and projects to diversify the national economy. For instance, we have actively invested in technological projects.
Literally since last June we have already funded construction of the Kutuzovsky Prospekt relief road, started financing the third section of the Central Ring Road, Pulkovo Airport, two oncological centres in the Moscow Region, and Globaltruck transport company, to name a few.
The Russia-Japan Investment Fund (RJIF) established with your support has started actively functioning and very quickly made its three first investments, including in Transneft. We believe this is a very important investment for our Japanese partners and thank you for the support of the RJIF.
Vladimir Putin: What projects are you referring to?
Kirill Dmitriev: They invest in the development of Transneft and believe in growing its capitalisation.
We are also actively expanding investment in technology and have established our vehicle – RDIF Technologies. We have chosen leading partners from China, Japan, Singapore, Europe, and the United Arab Emirates (UAE). They will invest together with us in technology projects based on your digital economy initiative.
In the near future we will announce our investment in Yandex.Taxi and a number of our websites to expand our activities abroad. We will also invest together with Alibaba in internet logistics infrastructure in Russia.
Vladimir Putin: Well done.
Kirill Dmitriev: In conclusion I would like to say that we have over 40 projects with the UAE and more than 20 with China. Saudi Arabia has already co-invested with us more than $1.2 billion.