Japan, Germany May Invest Billions in Production Localization in Russia

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Japanese investors could invest billions of dollars in the localization of production in Russia, Russian Direct Investment Fund (RDIF) CEO Kirill Dmitriev told Sputnik on Monday.

Russian President Vladimir Putin (2nd R), accompanied by Igor Sechin (3rd R), the CEO of oil giant Rosneft, meets with participants of Rosneft privatisation deal: Bank Intesa CEO Carlo Messina (3rd L), Glencore CEO Ivan Glasenberg (2ndL) and Sheikh Abdulla bin Mohammed bin Saud Al-Thani, chief executive of the Qatar Investment Authority (QIA), at the Kremlin in Moscow - Sputnik International
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SOCHI (Russia) (Sputnik) — He added that the Japanese companies were focused on energy and agricultural sectors, while the German investors expected to re-export goods produced in Russia to Europe and were ready to invest some $2 billion.

"The RDIF actively works on the localization of the industrial production, particularly in agriculture and in the service industry. The localization of production in [Russia's] regions would be a driver for the growth of economy… A number of projects on localization of production by the Japanese and German companies is expected to be announced soon… Japanese companies are interested not only in projects in [Russia's] Far East. The investments worth billions of dollars are expected," Dmitriev said.

According to the official, the revaluation of Russia's currency could have a negative impact on the localization projects, as only stability of the ruble could ensure potential benefits of production in Russia.

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