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China Investment Corporation (CIC) plans to invest in Russian infrastructure projects
China Investment Corporation (CIC) intends to increase investment in Russia. This was announced at the St. Petersburg International Economic Forum by the Chairman, Chief Executive Officer of the Corporation, Dean Xuedong.
“We in Russia have already accumulated several billion dollars of investments in such areas as finance, agriculture, real estate and others. We cooperate with RDIF and have created a joint Russian-Chinese investment fund, which is developing very successfully. The pace of development is satisfying. we are going to accelerate the pace of our investments, we want to increase investments, first of all, in agriculture, in the field of high technologies, in the production of medicines, etc., "he said.
In addition, according to Xuedong, infrastructure is also very promising for investment. "There is a huge demand for investment in infrastructure, as Russia needs to update it," said Ding Xuedong, adding that in this regard, it would be advisable to attract even more private investors.
CIC also plans to participate in the creation of technoparks and industrial parks in Russia. "In this regard, we have already discussed these possibilities with the Minister of Industry and Trade of the Russian Federation," said the CIC chairman.
Ding Xuedong stressed that for several years, Chinese companies and, including CIC, have established very good operational relations with Russian partners.
"We felt that the Russian government welcomes the arrival of Chinese companies on the Russian market," he said, expressing hope that in future cooperation the Russian side will continue its efforts to create even more favorable conditions for improving the investment climate. "We hope that various levels of approval of documents will be reduced here. As for infrastructure, construction, we would like to simplify the procedures for approving permits, de-bureaucratization would be carried out," Ding Xuedong said.
In addition, the Chinese side expects that it will be possible to attract investors, including private ones, to new industries. “We also hope that the degree of openness, transparency and transparency for the activities of foreign investors will grow. We have confidence and great interest in expanding our investments in the Russian Federation,” concluded CIC Chairman Ding Xuedong.