UAE State Fund Praises Investment Projects With Russian RDIF - CEO

The UAE Mubadala Investment Company, the state-owned wealth fund, enjoys fruitful cooperation with the Russian Direct Investment Fund (RDIF), which already resulted in the implementation of 35 successful investment projects, Mubadala Managing Director and CEO Yasir Rumayyuan said Tuesday.

RIYADH (UrduPoint News / Sputnik - 23rd October, 2018) The UAE Mubadala Investment Company, the state-owned wealth fund, enjoys fruitful cooperation with the Russian Direct Investment Fund (RDIF), which already resulted in the implementation of 35 successful investment projects, Mubadala Managing Director and CEO Yasir Rumayyuan said Tuesday.

"Let me start with RDIF, our focus in our cooperation is co-investing in Russia. So, effectively, we have two institutions with a defined aim of investing into the Russian economy. We have done 35 investments and I can report that it turns out very healthy," Rumayyuan said during a session at the Future Investment Initiative (FII) conference in Riyadh.

Rumayyuan stressed that his company had managed to succeed on the Russian market despite the fact that it had entered it in troubled times, when many investors were leaving Russia.

"We entered the market in a difficult time, and because of that we achieved attractive returns over the last couple of years," Rumayyuan indicated.

The three-day FII kicked off in the Saudi capital of Riydh earlier on Tuesday. The event, held in a difficult international context determined by the murder of Saudi opposition journalist Jamal Khashoggi inside Saudi consulate in Istanbul, is expected to bring together over 150 speakers, 140 organizations and world's leading companies. The Russian delegation, participating in the event, comprises over 30 members, including the RDIF representatives.