Moscow and Beijing discussed attracting investment in Russian infrastructure projects

Russia is interested in attracting Chinese investors to infrastructure projects, projects to localize production and oil refining. About it informed press service of the Ministry of Economic Development of Russia.

China hosted a meeting of the Russian-Chinese permanent working group on issues of interregional and border cooperation and special economic zones. The Russian delegation was headed by Deputy Minister of Economic Development Dmitry Volvach. The Chinese side was represented by Vice Minister of Commerce Ling Ji.

“The Russian side expressed interest in attracting Chinese investors to implement investment projects in the Russian regions in the field of transport infrastructure, construction, advanced oil and gas processing, tourism, agriculture and the food industry, the fishing industry, solid waste management, as well as in localization of production on the territory of Russia,” the Ministry of Economic Development said in a statement following the meeting.

According to Volvach, Moscow is also ready to consider joint projects in the development of alternative energy sources, artificial intelligence, genetic engineering, digital and bio-economy. At the same time, Russia is interested in Chinese investment in transport infrastructure and the development of cross-border communication lines and power transmission lines in border areas.

At the meeting of the working group, the interaction between the special economic zones of the two countries was discussed. The ministry clarified that work on updating the plan for Russian-Chinese investment cooperation will soon be completed. The parties agreed to hold the next meeting of the working group in 2024 in Russia – in the Moglino SEZ in Pskov.

In May, as a result of negotiations between Russia and China, signed five documents in the field of trade, medicine, sports and intellectual property. In particular, a Memorandum was signed on deepening investment cooperation in the sphere of trade in services. A number of documents are planned to be signed during the visit of Russian President Vladimir Putin to China in autumn, told Cheng Yikun, Deputy Director of the Department of Europe and Central Asia of the Ministry of Foreign Affairs of the People’s Republic of China.