real motivation. libyans are joined in jubilation anticipating fall but skepticism early to celebrate is just as widespread analysts point to the post revolution. egypt which has yet to turn over power to the people. in half an hour's time but for now it's our interview show spotlight in just a. well let's. bring you the latest in science and technology from around the clock. we've got the future covered.

hello again you're welcome to spotlight the show on art. today my guest in the studio is killed in the need to hear how the world economic forum in st petersburg president meet that he means a visit launched an investment fund aimed at healing the country's economy with borrowed money innovative businesses and high tech manufacturers stand among the main recipients of the promised cash flow to fulfill them vicious gold the president sent one of the iconic figures dressed in the best in the market to spearhead the project but where will the money be coming from here's the head of the russian direct investment fund killed in the. recently created washington i reckon best bankroll its first project in a couple of months a billion dollars will go towards medicine pharmacy agriculture an important placement the deputy head of the russian central bank says much of this money will

probably come from the middle east but the fund still has much work ahead to make everyone believe their investments washington d.c. . police. are welcome to show thank you for coming well first of all i want to call ask you what makes your front the new front you're heading different from other investment funds that are existing in the country. people have been investing into russian economy for a long time i'm sure sure one of the key features is a core investment future so we will be able to invest any money in a need business unless there was at least the same amount of going vestment coming from lead in international investors so that's a very unique feature and it's very important because it always allows us to have second pairs of eyes looking over investments we are doing it allows us to bring foreign investment into the russian economy before you were appointed president of this new fund you were president of the i can promise the equities that true what

was so special about this company what was so special about the job you did there that made you fit and for the need and position that made president pick you personally for this new position i'm sure well we've been doing investments and i've been doing investments in russia for the last ten years and it's very important investment businesses to have a good track record so not only to make good investments but to have good ags it's so i've been lead into firms one is dealt a private equity another and i can private tech would see it and we've really been very successful in making investments in financial service sector in me just service sector in the sector since the economy so i'll give you an example when i was a delta we invested in one of the you know small media companies of that time called c g c media which is now one of the largest entertainment empires in russia and the value grew from fifty million when we invested in the business to over three

billion right now because russian middle class grew and advertisement trade grew so it was investing in those kinds of businesses in telecom sector in other sectors that have been successful in russia and that's why the president and the. bank supervisory board decided to pick me for this position you promise profitability of the investments in russia up to. annual twenty percent but how is that possible if the growth of the russian economy is no more than ten percent is it isn't it a contradiction now we believe that leaders of the russian business and lead in business in russia will grow dramatically and if you look historically at how much value has been created in russia you know it was you know billions and billions of dollars of value in leaders have been growing at thirty forty fifty percent in russia so we'll be focusing on those lead in segments on some of the lead in businesses which will have two principal types of investment there will be an

infrastructure investment which will generate maybe ten to fifteen percent a year life more stable much more predictable sort of less exciting you know businesses will have twenty five thirty percent rates of return which we believe we can generate in private equity businesses and private businesses that are growing very fast so in health care in pharmaceuticals a little bit less predictable but definitely with high growth potential our i don't know if this is somehow has something to do with your appointment but recently the russian state television channels showed an american movie pretty old movie called of the people's money they should for a couple of times and this is this is like a pretty iconic movie for the united states it's about it's about investing well speaking about average growth this if you say that that leaders grow like more than twenty percent. and you won the average growth to go higher does that mean that you

want less profitable businesses or unprofitable businesses to die and that will that will be good for your business you know we believe that it will improve the statistics well that we believe we will bring a lot so of efficiency into the russian economy so we will not only bring capital to invest which is very important but was our international partners will bring know how and management cracked. that will allow efficient businesses to prosper and be successful and i think what's very important is it can petition is actually very good physique on a mean when businesses compete they become more efficiency because they bring more products so i think you know. it's very important to invest to build successful businesses and for lots of businesses still strive to be as successful as businesses where people invest and you mentioned the value of your project so i know that by september you're planning to present a new projects which is a couple of months from now what will be the value of the projects you're going to

present its again we have to be very realistic we just basically finished for mation of the management company on june first and we in the process of hiring key people and we'll be able to hire them close at the september and october so in the investment process typically takes five to six months so i think we will realistically be discussing was co-investors some projects in pharma industry some projects in. utility infrastructure some projects in the healthcare sector and we believe that by example of the year we'll do transactions over around five hundred million dollars but that is by the end of the year in september we're just starting discussions of some of the most interesting and exciting opportunities that we still need to evaluate and work together was alcoa investment partners to analyze and really figure out so you still fishing but can you name us at least a couple of companies that are already on your hook that we can look and actually

that's a good thing about private equity industry was before the deal was done it's impossible to talk about the potential targets because a best case increases their valuation expectations and worst case it just leads that transaction will be undone because typically we all in the months once a transaction is finished rolls of paper signed and that's very important to look at have to invest in companies before you came to the. to these new friend are you dragging as some of the partners from these companies through the actual we're trying to minimize people impact and actually we have very careful in selecting i would seem because a would want to take you know all of the people from a previous fund we also don't want to go in aggressive a higher weight people from all of the lead in fonts in russia so we've been actually quite successful in being very gentle in pekin some key people from different firms was sort of really offending them because we wanted them to be

investment partners in the russian market we also became quite a few people was international backgrounds and we have one gentleman was fifteen year over experience and in private equity firm another one was ten years experience so we will not only have russian nationals we'll have a well rounded teams that will include international investment leaders as well you were quoted as saying a thing that may sound funny for foreigners you saying that russian economy is more predictable than in most of the countries what makes you think so and what are the arguments because i'm sure that most of our viewers would say that if russian economy is predictable then then what's unpredictable that does well it well i think it is actually a great question because when people read newspapers and saw all sorts of stories there is a basically a trader russia in certain ways but those stories forget about some very key statistics very fundamental things so i'll mention just a couple russian death is twelve percent of g.d.p.

as compared to one hundred percent almost hundred percent in the united states and that's very important because we all know that countless was high debt such as greece and some other european countries are having major major problems because basically they spend more than they've accumulated and that creates tremendous amount of tension and i think we will see lots of this in the next coming months so that's very. very good another statistic russian middle class tripled in the last five years if you look at households was incomes of forward ten thousand a year there was eleven percent of those households into solvent and five it's over thirty percent now so very few people know in this sort of think about the russian middle class tripled in the last five years and the final number for you in the russian reserves the third largest to foreigners are sons of world so again in the very volatile economy when lots of changes to happen a lot of things to happen in heaven that question of money is actually

a very safe and very positive thing to have so i think on balance in a very volatile world if you look at the numbers if you look at statistics they actually speak pretty well about russia well my family's savings have tripled in the last year or two they were one hundred bucks today three hundred said they tripled it is so sad statistics that there's thinks are are tricky may be tricky listen i've heard that the government will be a first investor that you'll be getting ten billion us from from the russian state is that true and why do you need government money yes. investments it's very important that international investors feels of that have a good partner in russia because when we have traveled to the lead in the best person in the world they said yes we believe in russia it's possible to generate good traits of return but to do that we need to partner justice for example if you invest in china and india you could do it on your own but probably would be a good idea to get the local partners they need that the government is the only reliable partner in this country well i think government is one of the key and most

reliable partners in this country and i think government is making major initiatives to improve investment climate in russia so providing this capital to share risk because investors will give them any guarantees but be their partner and core invest a lot is them is the basic idea behind the fund says keeley dimitri you have had their. direct investment the spotlight will be back shortly will continue this interview also will take a break so stay with us down. twenty years ago the largest country in the world to serve the existence of. what had been such began

a journey. where did it take them. welcome

back to spotlight i'm al gore nabhan just to remind you that my guest on the show today is killed the myth that he had had of the russian direct investment fund we're talking about this new fund about about getting money to invest into russian economy how hard is it well the easiest part of your job i guess is to get those those couple of billion dollars from the russian government you said an interesting thing just with before we took a pause you said that when the government becomes a partner in russia this attracts foreign investors because the part of the government is a reliable and a rich part but this is strange. you say that this attract government activity in your friend in economy here is attractive for foreigners but on the other hand they used to say the russian government is too active an economy the

russian government doesn't let us do for free business on a free market we want less government attention and less good government activity in the economy so so so where is the where is the limits and are there limits for for the government activities in the economy but it's a very good question and as a kid it is a proper balance so for example we will be a font be able to take control and stakes as a companies so we'll be taking small minority positions you know maybe a block in positions of twenty five percent now together with al queda vestment partners we would be able to have control but again it's not government having control it's us having a minority position but the guy was calling us from partners given the major position you will be getting the billions of government money this means you'll be under total government control you first why. yes and no because governance of story importance so we will have

a supervisory board which will be you know we could decision making body for the fund and it's the actual include quite a few foreigners and governments will actually be you know an important part but not the control and part of that supervisory board and that's again very unique because the whole idea behind the fund is really to help fund generate returns and allow foreign investors to get those good returns and invest more down the road so it's s. commercial and this return focused entity as possible was government really providing help but the what driving all of the decisions and it's very important because we had a big meeting with mr putin where investors manage and two trillion dollars from a present and zest a very specific and direct question mr puts and will use of funds to promote certain sectors of the economy to really do sort of government like things and he was very clear he wants a fund to generate good return and it was a fun generated which are churn will for sure it means girls businesses it means

more employment opportunities it means innovation and with what your church comes first do you think that the government's come to be to you and make concrete some people see will be increased did you feel that union meetings with putin meeting medvedev and what could encourage the government to increase its contribution well it's very important that our business is very new to craddick kind of business what do you mean with the credit wants to have to be seen so we either show good returns and we get more money you have merits maybe out of more with turns and you know we cannot raise any money in order to crack ticket in my language is city code is that you know the domains we need to produce results and it's very important i think there was a sense if you produce results if it produces good returns then. it can be managed and even now you know it's a ten billion dollar committee. and the first portion we get in this year is only two billion dollars and i think prior to this birth saying you know in the next

eight billion the government will block and what kind of deals we're doing i was successful i would be a good investor is at the positive story being cranky does it mean avoiding the long difficult projects no i think it means to really be focused on projects that join the raid which returns and then lead to creation of employment and other things but very much focused on returns because event of the day investors do not like projects was it was money and the whole benefit of investments is actually uniting my knee and intelligent approach to businesses that can grow and the saw result produce good a good profit so i think it's a win win for the companies for investors for the government if you don't want to name you or possible partners can you tell me which industries are on the list of your priorities way gunday where are you going to. put the money you get that i

guess now not only in the with the gas production to the old you give us some examples we believe you know agriculture is really great sector and russia is a great place for agriculture and you know has lots of agricultural businesses that are growing dramatically but that the on the investment so really that agriculture is going to be very interesting to see today we understand it's in a circumstance that we should have our own cucumber is not exactly yes that's true and you know agriculture prices increasing dramatically so agribusiness is a very important health care again health care can do much more efficient and can be improved dramatically we sprawl pretty vast amounts i was proper and the how energy efficiency we all know that we have so much dependent on energy prices and there are all sorts of new energy efficient technologists that produce very significant cost savings so it's not venture projects it's not very risky early start or early stages. projects so it was a project where we can see sort of predictable cash flow and such as energy

efficiency it will produce good results but also good for the country it just crossed my mind the creation of your front. trying to track more and were foreign investors promising good returns doesn't mean russia is looking at a new wave of massive privatization well privatization is definitely coming and it will be the largest privatization in the history of russia actually and there are a number of businesses that are being put up for sale and that's very positive because it shows the government again wants to play a lesson for all in the economy and obviously we will also below kind of privatization projects and i think it's very important that many international investors many international funds are competing to participate in those projects because and surprise goes up and that's good for the government you mentioned agriculture you mentioned health care this of course are the priority industries where russia wants investment to flow but. what are the what are

the industries that. foreign investors themselves are interested in in russia see and that's again a very key question because we didn't define those priorities just by what russian government wants we actually went to leaders of investment funds in the world and they asked for example people in the arab world what kind of industries would you consider attractive in russia and they actually did mention agricultural health care and let's see if the russian the russian deputy head of the central bank mentions the necessity of the tracting the arab capital the capital from arab countries to russia why such special attention to this part of the world to arab money well there is first of all quite a bit of life as it is being managed for example of would be investment authority manage to manage just over six hundred billion. in kuwait investment office man the just over two hundred fifty billion and they've been in discussions with both of

them and they're very much interested was what russia has to offer and we believe that russia offers awards of interesting investment opportunities to arab investors but they were just not so much focused on the region they preferred to invest in other parts of the world so being able to attract them as well as china and european funds and american funds is actually good for the russian economy in the one of his speeches going to these recent speeches that as a matter of fact prime minister putin promised that he would be protecting foreign investors i think he even said personally taking care of for investors is it enough to convince foreigners that their money in your hands are safe well i think once again that had a very positive meeting with mr porter and they came very and they're just and very much focused on specific sectors following that meeting so i think it was very important for them to hear that message because that's

a very important message for them to hear but in addition there are all sorts of institutional efforts that they can place and the fund this one of those efforts and given proper governance having success stories will contribute to the story so i think it's very important for them to here's a message but the example of the day they will be happy once they reach a dollar now and takes three dollars you know four years from now that's basically what will make them you know really happy this side it's growing and helping to grow russian cucumbers i'm sure for an investment in size zero and gas of course which is which is a special issue i'm sure of the foreign investors would like to invest into russian high tech industry because because it is growing because it is a government priority and we just talked about it that if you get those investments if people will be ready to give you the many can you guarantee. that you have in russia enough specialists enough people to guarantee that these investors that this

money going to work well we believe that high tech is really a key industry in russia and young the i.p.o. which was one of the largest why it was successful high tech i.p.o. shows there is major promise in russia major promise in russia because very talented very sophisticated programmers and people russia is one of the most educated countries in the world with the keyboard is we believe it's possible to make very good returns they're definitely going to be investing but we're not giving kenya think it's very important we share risks we're putting money in projects we believe return is going to be good and we assure that tree is going the trick turns at the preacher interviews as investors so yes we believe that the high tech is a great market to invest and that we will be providing any guarantees we believe that investors will know it's a good sector to invest and they will be invest in there ok and just just to conclude to conclude this into the. is it dry the impression i got from talking to

you and i think the viewers of us and that one hundred percent of these the investments coming through your fund from abroad will be guaranteed by the russian government is that true you know there's a lot to get into it again we have quite a vested with them so we believe we'll make good return and if i'm a good return on mine it doubles in like three four years if we don't make good return and will lose money we'll lose the money and international vessels follows the money but all of us little do everything in our power and repudiation is very important to us and to the russian government that will be making successful investments but it's very important that they make independent decisions we make independent decisions and together we make very good profitable investments in russia so you promise of to be fun thank you very much thank you thank you for being with us and just to remind that i have my guests today was healed had. probably russian direct investment and that's it for now from all of us here if you

want to have your say so perhaps someone of the mind do you think i could into the next time you drop me a line and i'll bring up. our unique and let's get interactive who will be back with more of her own comments on what's going on in and outside russia until then stay on our team and take care.

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battleground tripoli heavy fighting goes on in the libyan capital as rebels. backed up by nato airstrikes. secret assistance british intelligence has reportedly planned at the end game for regime guiding the rebels and the push. libyans are joined in jubilation. peaceful but skepticism that it may be too early to celebrate is just as widespread. john's flock back to libya on a red carpet laid out by a self-proclaimed new government. who helped to oust gadhafi.