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The Russian Direct Investment Fund (RDIF) and Fondo Strategico Italiano (FSI) today signed a landmark memorandum to establish a €1 billion investment platform focused on Italy and Russia
The signing ceremony took place in Trieste in presence of the President of Russia Vladimir Putin and the Prime Minister of Italy Enrico Letta.
The two financial institutions will invest up to €500 million each primarily in companies and projects promoting the development of foreign trade and FDI between Italy and Russia. Both RDIF and FSI investment teams will have their first working session identifying near term opportunities in two weeks in Milan.
Maurizio Tamagnini, CEO of FSI, said:
“Fondo Strategico Italiano and the Russian Direct Investment Fund have a lot in common. Like RDIF we were formed only two years ago and our key investment priorities include encouraging FDI and financing market based investments important to our home countries. We seek potential joint investments in sectors such as food, engineering, machinery and other technology-based industries. We look forward to deploying our collective knowledge and expertise to further boost the economic cooperation between Italy and Russia”.
Kirill Dmitriev, CEO of RDIF, said:
“Russia and Italy have a special long term economic relationship developed over decades. Today there are 500 companies with Italian capital in Russia. Over 70 of them have established production facilities in our country. I expect this important joint investment platform will help unlock new opportunities strengthening bilateral ties and mutual long term investment”.
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