Dubai Government Investment Corporation (ICD), the main investment arm of the Government of Dubai, today signed a cooperation agreement with the Russian Direct Investment Fund (RDIF), the Russian sovereign wealth fund, to seek joint investment opportunities that benefit the countries of Russia and the UAE.
The agreement aims to strengthen bilateral economic and investment relations between Russia and the UAE, through the possibility of establishing a joint investment platform for the two countries.
“Today's agreement represents an important first step towards exploring the potential benefits and growth opportunities that can be achieved from both sides,” said Mohammed Ibrahim Al Shaibani, Board Member and Chief Executive Officer of Dubai Government Investment Corporation.
“We are excited about the opportunities that lie ahead, and we look forward to them in the near future.”
The agreement, signed during Russian President Vladimir Putin's visit to the UAE, is a joint strategic understanding between two major international investors.
Commenting on the signing of the agreement in Abu Dhabi today, Kirill Dmitriev, CEO of the Russian Direct Investment Fund, said: “The Russian Direct Investment Fund is pleased to announce our partnership with a leading investment institution in Dubai, aiming to develop and revitalize relationships with the UAE business community.
We are confident that we will be able to create many attractive investment opportunities and we plan to start this cooperation in the near future. ”