Russia and Japan begin forming investment fund

TOKYO, January 11 (Itar-Tass) - Russia and Japan have begun establishing the first joint multipurpose investment fund of three billion dollars, chairman of the board of the Russian-Japanese Business Council Aslan Atabiyev told a press conference on Friday. According to Atabiyev, the aim of the fund is to “attract funds of Japanese investors to finance projects in Russia and Japan.”
“The planned amount of the investment fund for the first year of its activity is three billion dollars, Atabiyev said. “The initial potential of investment projects of the fund amounts to more than 10 billion dollars and embraces all main spheres necessary for running a fully fledged and extremely profitable business.” Among them, the Russian representative singled out “the participation in the construction of facilities in the capital of the Winter Olympic Games-2014 in Sochi, in the construction of cement plants, leasing of building and special equipment, concrete-mixing units, automobile and tractor equipment.”
“The participation in reforming the oil and gas industry and hydropower engineering, including the construction of hydro-accumulating stations, also seems to be promising,” he went on to say. As Atabiyev stressed, concrete projects of Russian and Japanese companies will be presented at a bilateral investment form due to be held in Tokyo on February 14-15.
According to Atabiyev, the fund will be established with the assistance of the national Business Councils, as well as the recently created Japanese committee on support of the holding of the Winter Olympiad 2014 in Sochi.
Chairman of this committee, prominent politician of Japan, former defence minister and deputy of the parliament from the ruling Liberal-Democratic Party Fumio Kyuma has confirmed at a press conference the Japanese side’s readiness to promote the successful holding of the Olympiad in Sochi, as well as interest of the country’s businessmen in implementing large-scale projects in Russia.