Latest news with #SPIEF2025
Russia Today
2 hours ago
- Business
- Russia Today
Global economic challenges take center stage at SPIEF 2025: Live Updates
Russia is hosting the 28th annual St. Petersburg International Economic Forum (SPIEF 2025), which began on Wednesday. Thousands of participants are expected to attend the three-day event. This year's main theme is 'Common Values – the Basis for Growth in a Multipolar World'. According to the forum's program, discussions will focus on global economic challenges, cooperation models, and sustainable development amid geopolitical turbulence. The agenda includes around 150 events across five tracks: 'World Economy: New Platform for Global Growth', 'Russian Economy: New Quality of Growth', 'Man in a New World', 'Living Environment', and 'Technology: Striving for Leadership'. The program features panel discussions, SME forums, and creative industry sessions. SPIEF 2025 will also host 19 business dialogue meetings between Russia and its key partners, including Africa, Brazil, and the UAE, as well as EAEU-ASEAN discussions. The International Youth Economic Forum 'Day of the Future' is also scheduled during the event.
Russia Today
4 hours ago
- Business
- Russia Today
Russia is open to ‘smart' foreign investment
Russia is open to foreign investment but it should be 'smart' and focused on developing new technological capabilities, First Deputy Prime Minister Denis Manturov has said. Speaking at the St. Petersburg International Economic Forum (SPIEF 2025) on Wednesday, Manturov said that most foreign companies that stayed in Russia despite Western sanctions are acting 'correctly.' He said those companies are investing in scientific and technical development and operating in ways that have helped them retain their positions in the Russian market. According to the deputy prime minister, however, future foreign investment must follow clear business principles and should go beyond simply expanding production capacity. Manturov reiterated that Russia is not rejecting foreign investment, but highlighted the country's ability to continue operating under sanctions and finding domestic solutions to complex economic issues. He also said that Russia should be selective about its investment partners and focus on cooperation that strengthens its technological base. 'In the future, we must establish clear principles for doing business with foreign investors. We're not turning them away, but investment must be smart — not just about building capacity, but about developing new technological competencies where additional growth is needed,' he noted. His remarks come as Russia is drafting legislation that would regulate the right of foreign companies to reclaim assets sold during their exit from the country after the escalation of the Ukraine conflict in 2022. The law would allow the Russian authorities or current owners to reject asset buybacks under certain conditions. Grounds for doing so would include the repurchase price being below market value, or if more than two years have elapsed since the original deal, during which time the Russian owner fulfilled its obligations to employees and creditors. Following the exodus of foreign firms, the Russian market has largely adapted by promoting domestic and Chinese brands, thus making re-entry more challenging for Western companies. In sectors such as the automotive and fashion industries, local alternatives have filled the void left by departing Western firms.
Russia Today
11 hours ago
- Business
- Russia Today
SPIEF 2025 kicks off in Russia: Live Updates
Russia is hosting the 28th annual St. Petersburg International Economic Forum (SPIEF 2025), which began on Wednesday. Thousands of participants are expected to attend the three-day event. This year's main theme is 'Common Values – the Basis for Growth in a Multipolar World'. According to the forum's program, discussions will focus on global economic challenges, cooperation models, and sustainable development amid geopolitical turbulence. The agenda includes around 150 events across five tracks: 'World Economy: New Platform for Global Growth', 'Russian Economy: New Quality of Growth', 'Man in a New World', 'Living Environment', and 'Technology: Striving for Leadership'. The program features panel discussions, SME forums, and creative industry sessions. SPIEF 2025 will also host 19 business dialogue meetings between Russia and its key partners, including Africa, Brazil, and the UAE, as well as EAEU-ASEAN discussions. The International Youth Economic Forum 'Future Day' is also scheduled during the event.
