MOSCOW, Oct 16 (NNN-WAM) – The sovereign funds of Russia and the United Arab Emirates (UAE) are expected to sign 10 investment deals worth over 1.3 billion U.S. dollars, during President Vladimir Putin’s state visit to the UAE.
The Russian Direct Investment Fund (RDIF), said, the deals with its UAE counterpart, Mubadala Investment Company, will cover areas such as, high technology, healthcare, oil and gas, logistics and industrial production.
During Putin’s visit, the two sovereign funds will also organise a meeting of business leaders from the two countries on expanding cooperation and implementing joint projects and prepare an exhibition on investment cooperation, RDIF said in a statement.
During six years of successful cooperation between the two sides, investments worth more than two billion dollars have been made and approved for more than 45 projects, it said.
Russia and the UAE are successfully developing partnerships in trade, energy, industry, tourism, and even in specialised fields such as training cosmonauts, RDIF CEO, Kirill Dmitriev, said.
Hazza Al Mansouri became the first UAE astronaut to take part in a mission, at the International Space Station (ISS) from Sept 25 to Oct 3.– NNN-WAM