RDIF and MODENA Forge Strategic Partnership to Boost Russia-Indonesia Investment
Economic relations between Russia and Indonesia have entered a new phase following the signing of a strategic cooperation agreement between the Russian Direct Investment Fund (RDIF) and MODENA Group. The agreement, signed on 4 June 2026 during the St. Petersburg International Economic Forum, aims to drive joint investment in both nations.
Through this collaboration, RDIF, acting as Russia’s sovereign wealth fund, and MODENA, an Indonesian multinational corporation, will work together on various industrial and manufacturing projects in Russia and Indonesia. The partnership includes opportunities for establishing joint ventures, technology transfers, and various production localisation initiatives.
Beyond the manufacturing sector, both parties will explore high-tech development and digital transformation. This includes the utilisation of MODENA Seamless Information and Communication Technology (ICT) solutions alongside Artificial Intelligence (AI) technologies developed in Russia.
The cooperation is expected to pave the way for Indonesian companies seeking to expand into Russia, while providing Russian firms with access to develop their businesses in Indonesia. This move is considered a vital step in strengthening the economic ties between the two countries, which are currently showing positive growth.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), emphasised that the partnership is designed to create tangible economic value through mutually beneficial industrial and technological projects. “This partnership serves as a foundation for bringing forward joint industrial projects, expanding manufacturing capacity, and accelerating the localisation of high-value technology in both Russia and Indonesia. By combining RDIF’s investment capabilities with MODENA’s industrial expertise, we can help reduce various operational and regulatory barriers while supporting companies from both nations in entering new markets,” Dmitriev stated.
He added that collaboration with RDIF and Russian companies could unlock new opportunities in manufacturing, artificial intelligence, and information and communication technology. Michael, representing the partnership, noted that Indonesia is entering a crucial transformation phase where innovation and technology will play an increasingly significant role in driving sustainable growth. “Through this partnership, we aim to accelerate this journey by exploring opportunities in manufacturing, AI, and ICT. We see great potential for Indonesia to take a more significant role in the global innovation ecosystem,” he said.
This strategic partnership aligns with MODENA’s ongoing transformation. Originally a leader in the electronics and manufacturing industries, the company has evolved into a multinational group operating across 12 key sectors, including electronics, energy, water solutions, mobility, heavy industry, telecommunications, retail, engineering and construction (E&C), logistics, medical equipment, ICT, and financial services. With its expanding global industrial network, MODENA remains optimistic that the cooperation with RDIF will create new opportunities for industrial development, strengthen technology transfer, and foster sustainable economic growth for both Indonesia and Russia.