Rostec, China CYTS to create $500 mln IT investment fund
Russia wants to boost investments in its domestic IT sector.
Mikhail Japaridze/TASS
The fund will finance high tech projects in Russia.
RT-Business Development, a subsidiary of Rostec, and China’s CYTS Industrial Development will create a $500 million investment fund for the financing of Russian IT and high tech projects, Rostec said in a statement on June 9.
The investment projects should receive preliminary approval from Russian and Chinese partners, as well as experts from international agencies.
Read more: Low commodity prices, information gap hinder Russia-Indonesia trade growth
All rights reserved by Rossiyskaya Gazeta.
Subscribe
to our newsletter!
Get the week's best stories straight to your inbox
We've got more than 1,5 million followers on Facebook.
Join them!
Read more