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Wed 16 Oct 2019 03:59 PM

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Dubai wealth fund eyes 'investment opportunities' with Russia's RDIF

Agreement signed as part of President Vladimir Putin's visit to UAE

Dubai wealth fund eyes 'investment opportunities' with Russia's RDIF

Investment Corporation Of Dubai (ICD), the principal investment arm of the Government of Dubai, has signed an agreement with the Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, to explore mutually beneficial investment opportunities in both Russia and the UAE.

The cooperation agreement aims to strengthen bilateral economic and investment ties between Russia and the UAE through the potential  establishment of a co-investment platform.

“Today’s agreement is a significant first step towards exploring the potential benefits and growth that are realizable on both sides,” said Mohammed Ibrahim Al Shaibani, executive director and CEO of ICD. 

“We are enthused by the opportunities that lie ahead, and look forward to seeing them come to fruition in the near future,” he added.

The agreement, signed as part of  Russia’s President Vladimir Putin’s visit to the UAE, is a joint strategic arrangement between two leading international investors.

Kirill Dmitriev, CEO of the RDIF, said: “RDIF is pleased to announce a partnership with Dubai's leading investment corporation aimed at active development of relations with the UAE business community. I am sure that we will be able to find many attractive investment opportunities, we plan to start cooperating in the near future.”

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