Russian state-owned investment vehicle Russian Direct Investment Fund (RDIF) is set to create a $1bn joint fund with Thailand-based conglomerate CP Group, Russia Beyond the Headlines has reported.
The news emerged at the “Thailand and Russia – Bilateral Cooperation through the Lens of Thai Business” forum in Bangkok last month, which highlighted potential areas of collaboration between the two countries.
The joint fund was disclosed by Nutthakrit Sivasri, chairman of overseas operations at CP, when he discussed the company’s plans to invest in Russia. The fund will invest in the food sector, including both the production and distribution sides.
The forum was opened by Kirill Barsky, Russian ambassador to Thailand, as he talked about trends in Thai-Russian bilateral trade, and covered topics ranging from the present economic situation in Russia to business opportunities in the far east of Russia.
Barsky claimed the region is a unique place for investors with its land, infrastructure and tax benefits.
The forum was split into two halves with the first part focusing on the print media and the second concentrating on business projects.
– A version of this story originally appeared on our sister site, Global Government Venturing.