Russia, Turkey’s Renaissance agree on massive investment in joint projects

ANKARA, December 1. /TASS/. Russia’s Direct Investment Fund and Turkey’s holding Renaissance have signed a memorandum on mutual understanding that envisages joint investment in health care development, construction of trading centres in regions and infrastructure projects to the tune of $400 million, chief of the Russian Direct Investment Fund Mikhail Dmitriyev told reporters. “We have sealed a deal that we will make massive joint investment in Russian hospitals, construction of trading centres in regions and infrastructure projects,” Dmitriyev said. Asked whether media reports about the two parties to the deal planning to invest $400 million in these projects are true, he gave a positive answer. In his words, the parties would invest equal sums under the document. The Russian Direct Investment Fund forecasts a considerable growth of the private medical services sector in Russia and the project is geared towards its further development. “The sector of private medical services is to grow, we think, by 60 percent in the next three years, despite the current market problems. Apart from that, of major importance is their experience in the sector of infrastructure and construction of shopping malls,” Dmitriyev said, adding that Turkey’s experience in the development of medicine was important for Russia too. “They invest much in medicine and now they have announced a programme, under which 24 billion U.S. dollars will be invested in the modernization of Turkey’s healthcare system. So, Renaissance can boast a considerable experience in building state-of-the-art clinics. That is why we will invest together in these spheres,” he noted. He did not say however how many shopping malls were planned to be built under this document. “In this rather difficult, in terms of geopolitics, time, they continue to invest in Russia. Russia is obviously a very important market for Turkish builders. So, it is a positive signal that Turkish builders continue to invest whilst some Western builders are cutting their investments,” Dmitriyev added. Read more