Saudi Arabia and Russia will jointly invest $2 billion in technology projects next year, according to reports, following the visit of Crown Prince Mohammed bin Salman to Russia at the start of the World Cup last week.
Russia’s RIDF, the country’s sovereign wealth fund, and Saudi Arabia have already allocated $10 billion for investment with $2 billion invested already, the RDIF’s Kirill Dmitriev said.
Dmitriev also confirmed cooperation aspects were recently discussed between Russia’s President Putin and Saudi Arabia’s Crown Prince Mohammed bin Salman, according to the Russian news site TASS.com.
“[Saudi Arabia] have already invested more than $2 billion in various projects with us. They also allow our companies to come to the Saudi market, earn money there in the energy service and other sectors of the economy,” Dmitriev said.
Russia’s RDIF sovereign wealth fund aims to attract over 7 trillion roubles ($110 billion) from its global partners into infrastructure and technologies, part of its contribution to President Vladimir Putin’s move to boost the economy, Reuters reports.
