China to raise investment to Russia: Russian ministry
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Chinese investment to Russian economy will rise from the current 2 billion US dollars to 12 billion by 2020, Russia's RBC news agency reported on Tuesday, citing the figures released by Russian Ministry for Economic Development.
According to the ministry, Russia would offer the Chinese investors to participate in 16 regional projects in central Russia and Siberia. For that purpose, the ministry would organize trips for the Chinese businessmen to these regions.
The prospective investors should present their business plans to the ministry first, and after the proposals are studied, the ministry will invite three major Chinese banks to finance the projects, RBC said.
The ministry said Chinese entrepreneurs are mostly interested in the raw material extraction and processing in Russia.
In turn, Chinese investors expressed their concerns over the process of receiving Russian work permits and license, the agency reported.
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