Ahead of Russia President Valdimir Putin's State visit to China starting on June 25th, Russia First Prime Minister Igor Shuvalov, who also leads the China-Russia Investment Committee from the Russia side, paid a dedicated tour to LeEco in Beijing on June 24th and tried the internet and technology conglomerate's ecosystem products, including the most renowned LeSEE electric car, super phone, super TV, VR and others.
Shuvalov said Russia is welcoming China's symbolic companies, like LeEco, to invest in Russia, and will provide the best market environment and full support.
This is the same gesture expressed by Russian President Vladimir Putin on June 17th when LeEco's Founder and Chairman Jia Yueting was invited to attend the 20th St. Petersburg International Economic Forum (SPIEF 2016) and made a speech while announcing its Russian Plan.
Putin expressed his appreciation and support for LeEco's plans in Russia, and added that there will be more favorable investment environment to support the company’s development in the future.
During the one-hour visit to LeEco, Deputy Prime Minister Igor Shuvalov and other Russian top officials including Deputy Minister of the Ministry of Economic Development Stanislav Voskresenskiy, visited the company's Product Experience center and had a brief meeting with Liu Hong, Vice-Chairman and Co-Founder of LeEco, and other top executives, including LeREE's President Xu Xinquan.
Shuvalov showed his recognition about LeEco’s unique ecosystem model and hoped that LeEco would bring its powerful content ecosystem, products and services to Russia, for which the Russian government will provide strong policy supports and create better investment environment.
In 3-5 years, LeEco plans to invest USD50-100 million into Russia and aims to bring the comprehensive ecosystem to the country. With an enormous base of internet users, Russia will become one of LeEco’s significant and strategic markets in its global expansion plan.
LeEco is establishing LeREE (LeEco Russia and East Europe), a wholly owned subsidiary in Russia. LeEco had also obtained the exclusive all-media rights to the 2018 FIFA World Cup in Russia, and has reached a four-way agreement with the Institute of Internet Development (IID), Russia Export Center, and JSC Digital TV Network. LeEco has also received exclusive rights to the 2018 Russia World Cup.
2016 has been LeEco’s year of globalization. Since entering India and North America, the Internet and ecosystem giant has indicated several times that Russia, an important hub for its plans in Eurasia, would be its next designation.