Russia's RDIF plans internet projects in Turkey with Yandex

Russia's RDIF plans internet projects in Turkey with Yandex
Russia's Fund for Direct Investment (RDIF) joint $900mn Turkish fund, Yandex to set up joint projects during a meeting between Russian President Vladimir Putin and Turkish president Recep Tayyip Erdogan in Moscow
By bne IntelliNews April 9, 2019

Russia's Fund for Direct Investment (RDIF) and internet major Yandex discusses deals and joint projects in Turkey, the head of the fund Kirill Dmitriev told the press, while announcing the creation of €900mn Russo-Turkish investment fund.

"Yandex has a successful search engine business, good transportation solutions. We see that on the basis of what Yandex has in Turkey we can improve Russia's technological presence in Turkey and other Arab countries," Dmitriev said as cited by Reuters.

Russia's growing digital economy sees emergence of major financial-technological clusters, such as Bank and Yandex-Sberbank. The former seems to have a good grip on Chinese development direction, with a number of cooperation deals announced with the e-commerce major Alibaba.

Previously Yandex.Market and Sberbank chose a commercial strategy for its online marketplace that focuses on developing a cross-border trade platform that uses non-Chinese suppliers of good quality, among them also Turkish suppliers.

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