12 December 2012

Moscow hosted a meeting of the Business 20 Working Group on Investment and Infrastructure

On December 12, 2012, the Russian Union of Industrialists and Entrepreneurs (RUIE) hosted the first meeting of the Business 20 Working Group on Investment and Infrastructure, held in the context of the Russian G20 presidency.

"At the first meeting, we discussed how joint investments by G20 countries could become a catalyst for global economic growth, against the background of a likely economic crisis in 2013," Kirill Dmitriev, Director General of the Russian Direct Investment Fund (RDIF) and Chairman of the Working Group on Investment and Infrastructure, said.

The main items on the meeting's agenda were the role of joint investments and their significance as a new source of economic growth in conditions of global uncertainty; the role of G20 governments and international organizations in expanding the practice of joint investment among countries; and improving the global investment climate and infrastructure investment. In addition, the participants discussed investment profitability evaluation, government guarantees for infrastructure projects and promotion of the private-public partnership.

"By pooling the capital and investment capabilities of Europe, BRICS countries, and other G20 states, we will manage to create conditions for revitalizing the global economy," Mr. Dmitriev said, adding that infrastructure investments, primarily into communications and transport, would play a special role in this process.

"We will continue discussing the issues, and we are sure that the results of the Group's work will be an important contribution to the agenda that will be discussed by the G20 leaders at the September summit in St.Petersburg," he said.