Ministry of Economic Development of the Russian Federation
Ministry of Economic Development of the Russian Federation
Russia will offer China new joint projects worth 20 billion dollars
30 July 2020 13:46

At the 8th meeting of the interdepartmental Working group of the Russian part of the Secretariat of the Intergovernmental Russian-Chinese Commission on Investment Cooperation, held on July 28, 2020 at the Ministry of Economic Development of Russia, six new projects were considered with a total amount of declared investments of almost 20 billion US dollars. A new electronic platform has been developed for better and faster interaction between Federal Executive authorities and companies involved in implementing the Commission's investment projects. At the meeting of the interdepartmental Working group of the Russian part of the Commission's Secretariat, its capabilities were demonstrated.

This is the first meeting of the Working group in 2020. All preparatory work was conducted by the Department of Analytical Support of Foreign Economic Activities and the Department of Bilateral Cooperation of the Ministry of Economic Development headed by First Deputy Minister of economic development of the Russian Federation of M. V. Babich

At the Working group meeting, applications from companies involved in the implementation of investment projects were considered. For example, as part of the implementation of a high-tech investment project created be JSC "Monocrystal", it is proposed to develop a technology and organize a serial production in the city of Stavropol of polished sapphire plates with a diameter of 6 inches for the production of high-brightness LEDs and micro-light diodes. The planned production capacity should be about 150 thousand plates per month, and the expected amount of export revenue is more than 75 million US dollars per year. As part of the multi-year project of LLC "Baltic Chemical Complex", it is planned to build a gas chemical complex as part of a complex for processing ethane-containing gas in the village of Ust-Luga, Leningrad region, which will ensure the production of polymer products in the amount of up to 3 million tons per year. The declared investment volume is $ 18,820 million .

In the near future, it is planned to significantly improve the efficiency of interaction between companies implementing investment projects of the Commission, the Ministry of economic development of Russia and the Advisory Committee of entrepreneurs. An electronic platform developed by the State Development Corporation VEB.RF together with representatives of the Department for Analytical Support of Foreign Economic Activity of the Ministry of Economic Development of Russia has already been launched in test mode. "The platform will allow project initiators to carry out operational interaction with the Russian part of the Commission's Secretariat and responsible Federal Executive authorities, as well as more effectively monitor the implementation of the Commission's projects, which in turn will make it possible to increase the resource of the Commission, which currently supports 70 projects with a total investment of about 112 billion US dollars," Pavel Snisorenko said, Chairman of the Working group, Director of the Department for Analytical Support of Foreign Economic Activities of the Ministry of Economic Development of Russia.

The intergovernmental Russian-Chinese Commission on investment cooperation was established in 2014 on the initiative of the heads of states. It works to coordinate and strengthen practical interaction between countries in the investment sphere. The Commission provides assistance to interested commercial organizations of the Russian Federation and the People's Republic of China in implementing investment projects.

The Commission is co-chaired by first Deputy Prime Minister of the Russian Federation Alexander Belousov and first Deputy Chairman of the State Council of the People's Republic of China Han Zheng.

Дата публикации: July 30, 2020
Ссылка: https://en.economy.gov.ru/material/news/russia_will_offer_china_new_joint_projects_worth_20_billion_dollars.html
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