Saudi Arabia Invests in 40 Russian Projects
Saudi Arabia has invested in over 40 investment projects in Russia, reveals Kirill Dmitriev, CEO of the Russian Direct Investment Fund, to Russia Today (RT).
This initiative, in collaboration with the Russian Direct Investment Fund, spans various sectors, enhancing bilateral ties between the two nations. One notable project is the exchange route for “Kutuzovsky Prospekt” Street in Moscow, designed to ease traffic for about 1.5 million Moscow residents.
Facilitating Business and Technology Exchange
Dmitriev highlighted initiatives assisting Russian companies in entering the Saudi market, solidifying bilateral business relationships. Specifically, “Doctis”, an online healthcare company affiliated with the Russian Direct Investment Fund, will soon penetrate the Saudi market. Moreover, various Russian technology companies could enter the Saudi market, demonstrating technology sector cooperation between the two nations.
Cooperation Towards Climate Stability
The substantial cooperation in the climate sector between Russia and Saudi Arabia was emphasized by Dmitriev, noting significant joint efforts to ensure climate stability. The collaboration with BRICS nations—with Russia co-chairing next year—anticipates executing several impactful projects aimed at climate stability. Furthermore, the cooperation between Moscow and Riyadh not only advances mutual benefits but also favorably contributes to the global landscape.
Discussing the outcomes of the Russian-Saudi governmental committee meeting during Russian Energy Week, Dmitriev dubbed it vital. Saudi Arabia and Russia are enhancing cooperation in the energy sector and beyond, including various investment areas.
The Russian Direct Investment Fund inaugurated its first office in Saudi Arabia on October 14, 2019, intending to assist various Saudi companies in finding projects in Russia and facilitating Russian companies’ operations in Saudi Arabia, particularly in infrastructure-related projects.
