More projects needed to boost Russia-China investment
Updated: 2013-04-15 09:37
(Xinhua)
|
|||||||||
MOSCOW -- Russia and China need to carry out more demonstration projects to boost bilateral investment cooperation, says a fund director.
"The two countries have been devoted to investment cooperation in recent years, yet we have not seen enough successful projects," Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said in an interview with Xinhua on Thursday.
The RDIF and China Investment Corporation (CIC) established the $2-billion Russia-China Investment Fund (RCIF) when President Vladimir Putin visited China last June.
The RCIF is a "pioneer and paragon" not only for Russia and China, but for the Asia-Pacific region, Dmitriev said.
"The fund has concluded its maiden project, investing 200 million dollars in Russia Forest Products, the second largest forestry enterprise in Russia ... This is a fairly solid start," Dmitriev said, adding that several forestry projects were under way and open to Chinese partners.
Dmitriev is a member of the delegation led by First Deputy Prime Minister Igor Shuvalov to visit China next week. He said he would consult with CIC representatives, major Chinese banks and security trusts.
"The main goal is to introduce to our Chinese friends prospects and potential of investing in Russia. We are likely to hold detailed consultations on possible cooperation projects," he said.
Meanwhile, the director acknowledged that many elements had been restraining the two big neighbors from broadening cooperation.
"First and foremost, investors from both sides are not familiar with each other's national realities and potential, thus breeding stereotypes," he said.
Successful joint projects, as Dmitriev put it, were far from enough. "Thus, we (RCIF) need to set a good example that Russian and Chinese enterprises are able to conduct cooperation for mutual benefit."
With the Russian government recently launching a development scheme for the Far East and Baikal region till 2020, China was welcome to set a foot in this area, Dmitriev said.
"We have signed a handful of agreements with CIC in terms of investing and equipping infrastructure in the Far East. With hardware facilities of high quality, the two countries can move on to more investment projects," he said.
Dmitriev said the Russian government had implemented dozens of measures to improve the environment for investment. "Preferential tax policy is one of them. We are also working on a roadmap to facilitate customs clearance and improve logistics," he said.
With Russia-China relations entering a new stage, bilateral investment cooperation had every chance of reaching a new high, Dmitriev said. "Moreover, successful cooperation contributes to an intimate strategic partnership and neighborhood," he said.
- Li Na on Time cover, makes influential 100 list
- FBI releases photos of 2 Boston bombings suspects
- World's wackiest hairstyles
- Sandstorms strike Northwest China
- Never-seen photos of Madonna on display
- H7N9 outbreak linked to waterfowl migration
- Dozens feared dead in Texas plant blast
- Venezuelan court rules out manual votes counting
Most Viewed
Editor's Picks
American abroad |
Industry savior: Big boys' toys |
New commissioner
|
Liaoning: China's oceangoing giant |
TCM - Keeping healthy in Chinese way |
Poultry industry under pressure |
Today's Top News
Boston bombing suspect reported cornered on boat
7.0-magnitude quake hits Sichuan
Cross-talk artist helps to spread the word
'Green' awareness levels drop in Beijing
Palace Museum spruces up
First couple on Time's list of most influential
H7N9 flu transmission studied
Trading channels 'need to broaden'
US Weekly
Beyond Yao
|
Money power |