SCIC and Russian Direct Investment Fund Explore Promising and Comprehensive Collaboration Opportunities

: Đối Ngoại Truyền Thông; 20 June 2024; Hits: 1623; Rating:

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On June 19, 2024, within the framework of Russian President Vladimir Putin's official state visit to Viet Nam, a delegation of experts from the Russian Direct Investment Fund (RDIF) held a direct working session with representatives of the leadership of the State Capital Investment Corporation (SCIC) to promote economic cooperation between the two sides.

Scene of the working session between SCIC and RDIF

Attending the working session, on the SCIC side were Mr. Nguyen Chi Thanh, Chairman of SCIC; Mr. Le Thanh Tuan, Deputy General Director of SCIC, along with representatives of SCIC's functional departments. On the RDIF side were Mr. Kirill Dmitriev, CEO of RDIF; Mr. Fedor Susov, Executive Director, Investment Department; Mr. Anton Urusov, Executive Director, Investment Department; Ms. Ekaterina Shilina, Director, Department of Governmental Relations and International Organizations.

At the working session, SCIC shared and introduced to RDIF the investment opportunities in enterprises under SCIC's divestment portfolio, direct cooperation with SCIC's enterprises for projects of mutual interest, and the possibility of direct cooperation between SCIC and RDIF to exploit these opportunities.

At the same time, SCIC also expressed the desire to learn, gain experience and seek opportunities to form joint ventures and investment funds with Gulf countries based on RDIF's extensive experience and successful cooperation with partners in this region.

On the RDIF side, Mr. Kirill Dmitriev agreed with SCIC's proposals, gave an overview of RDIF's many successful agreements and cooperation with Gulf countries, and expressed readiness to support SCIC in connecting with partners through RDIF's joint investment funds and relationships with Gulf counterparts to maximize capital and create new relations and cooperation between sovereign wealth funds.

RDIF also expressed interest in the possibility of cooperation in areas such as: technology transfer, investment research for high-tech projects, digital transformation including digital banking, artificial intelligence (AI), or biotechnology, production and export of pharmaceuticals from Vietnam to the Russian Federation and vice versa. In addition, Mr. Dmitriev also mentioned investing in projects related to agriculture and food security regarding cooperation with Gulf partners.

Mr. Kirill Dmitriev also agreed with the idea of establishing a joint investment mechanism in Viet Nam to explore these opportunities, through RDIF's investment funds with Gulf countries to maximize capital and create many relationships and cooperation between state investment funds.

Previously, in 2016, SCIC and RDIF signed a Memorandum of Understanding (MOU) on cooperation. Accordingly, the two sides committed to sharing experiences and resources of RDIF and SCIC for the highest benefit of each party. The parties jointly considered investment opportunities for each project based on the project roadmap and appraisal as considered and approved by competent authorities from both sides.

In addition, the MOU also created a foundation for RDIF and SCIC to invest in important projects, bilateral trade activities or companies, equitization or globalization processes, projects related to Viet Nam - Russia, and other opportunities that the parties deem appropriate.

Several photos of the working session:

SCIC and RDIF exchanging gifts and taking commemorative photos

STATE CAPITAL INVESTMENT CORPORATION

SCIC and Russian Direct Investment Fund Explore Promising and Comprehensive Collaboration Opportunities