BEIJING, November 8 (RIA Novosti) — Russia’s Vnesheconombank (VEB) is planning to open subsidiaries in Hong Kong before the end of 2014, and in the foreseeable future Sberbank may do it too, Russian Economic Development Minister Alexei Ulyukayev said Saturday.
According to the Russian minister, Russia’s VEB will open a subsidiary in Hong Kong before the end of 2014 and Sberbank and Promsvyazbank are likely to follow its example in the near future.
“We hope that Hong Kong investors will be interested in implementing project in the most important from the prospective of modernization sectors of Russian Economy,” Ulyukayev said, adding that it is particularly important to attract the high-tech enterprises and research centers of Hong Kong to the Russia’s special economic zones in the spheres of energy efficient technologies, alternative energy sources, high-tech building and the Skolkovo Innovation Center.
A number of major Russian businesses including the aluminum giant RUSAL, world’s biggest nickel producer Norilsk Nickel, Magnitogorsk Iron and Steel Works (MMK), and Aeroflot and Transaero airlines are already represented in Hong Kong which according to the most recent Global Financial Centres Index is Asia’s most attractive city for doing business.
