OREANDA-NEWS. VEB Asia Ltd Company with VEB’s 100% participation and with charter capital equivalent to 30 million US dollars was registered in Hong-Kong. A decision to establish a subsidiary was taken by Vnesheconombank’s Supervisory Board in December of 2012.

Petr Selivanov, Vnesheconombank’s representative in the People’s Republic of China, was appointed as VEB Asia Director.

The Company is expected to secure cooperation with Hong-Kong financing institutions and  make efforts to engage investors for funding large-scale projects to be implemented of the territory of the Russian Federation.

By way of cooperating with the Export Credit Agency of Russia (Vnesheconombank Group) VEB Asia would help to promote Russian industrial exports to markets of East and South-East Asian countries. The Company will be also involved in financial consulting and will provide broker and asset management services.

Taking into account that Hong-Kong is one of the leading international financial centers the Company will also give high priority to participating in establishing an international financial center in Moscow – a task set by the Russian President.