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30 March, Monday

Ufa   °

Молния

Bashkiria plans to create direct investment fund

Economy/Business

UFA, 18 December 2019. /Bashinform News Agency/ translated by Tatiana Aksyutina/.

The authorities of Bashkiria plan to create a republican direct investment fund. It was stated on the sidelines of the “Bashkortostan Calling!” Investment Forum on December 18. Alexander Malakh, Director for Regional Projects of the Russian Direct Investment Fund, welcomed this decision and promised comprehensive assistance: “We are ready to consider co-investment with the Fund, we will attract our partners, and we will support you with methodological advice. The republic has great potential, where else to invest, if not in it. Over the years, the Fund has shown that you can make money in Russia. First, Arab partners appreciated this, then the business of China, France, Italy, Japan, and Korea”.

The representative of the Russian Direct Investment Fund noted that a direct investment fund in the republic could be created within the appropriate legislative framework.

Alexander Malakh advised the Bashkir management team to focus investment efforts on the strong side of the region. “Often, the authorities try to respond to any proposal, but only projects that correspond to the capabilities of the region will be effective. Bashkiria has a clear industrial orientation; you should focus on this”, the expert said.

According to him, RDIF is an advocate for public-private partnerships: “We are confident that the participation of private business, even by 5-10 percent, will significantly increase the effectiveness of the project and the pace of its implementation.”

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