15:22 GMT +307 December 2019
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    Saudi King Welcomes Cooperation Between Saudi, Russian Investment Funds

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    RIYADH (Sputnik) - Saudi King Salman bin Abdulaziz Al Saud praised on Monday joint projects of Saudi Arabia's sovereign wealth fund, Public Investment Fund, and Russian Direct Investment Fund (RDIF).

    "Reaffirming our support for the investment cooperation between the two countries through the Public Investment Fund and the Russian Direct Investment Fund, we welcome investment of the two funds in more than 30 investment projects, so far, and stressing the important role of the first meeting of the Saudi-Russian Economic Committee, to be held during the visit, that we support", the monarch said, when inaugurating talks with Putin.

    Saudi King have confirmed Riyadh's support for the bilateral cooperation in terms of mutual direct investments.

    "The joint investment and trade opportunities between the two countries through the signing of several agreements, especially in the field of energy, will have great positive results on the interests of our countries and peoples", the king added.

    Russian President Vladimir Putin arrived in Riyadh for a state visit earlier in the day.

    During the Russian president's visit to Saudi Arabia, the RDIF signed 10 agreements with Russian and Saudi partners worth $2 billion in the areas of aircraft leasing, railways, petrochemicals, agriculture, fertilizers and others. The fund has also opened its first foreign representative office in Riyadh.

    Tags:
    cooperation, investment, Russian Direct Investment Fund (RDIF), Russia, Saudi Arabia
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