Russia and the United Arab Emirates signed agreements worth $1.4 bln in the course of President Vladimir Putin’s official visit to the UAE.
According to the Russian leader, investments were be made in petrochemistry, transport, and medicine." New deals have been closed today. These are projects worth about $1.4 bln, and they cover a wide range of industries," Putin said at a meeting with business representatives of the two countries.
He stressed that Moscow welcomes the UAE's investment in the Russian economy. The head of state recalled that the Mubadala Emirates fund is one of the first partners of the Russian Direct Investment Fund (RDIF) and together they have already implemented more than 45 projects worth $2.3 bln.
"The return on these investments is significant, sometimes it is three times higher than global standards," TASS cited him as saying.
According to him, the industrial cooperation between Russia and the UAE is also gaining momentum. "We welcome our Emirates friends' entry into the share capital of the company, the manufacturer of executive Aurus cars. We are doing and will do all that is necessary to make investors, including those from the United Arab Emirates, feel comfortable in our market," Putin noted.