The St. Petersburg International Economic Forum (SPIEF), Russia’s premier event for business and investment, commenced on Wednesday with a persistent emphasis on fostering a “multipolar” world amid Russia’s estrangement from Western nations.
Following Russia’s invasion of Ukraine in 2022, the perception of SPIEF as the “Russian Davos” has diminished, attributed to a notable decline in the attendance of Western business leaders, investors, and officials.
According to the Kremlin, around 20,000 participants from 140 countries are anticipated to join the forum either in person or virtually, with the inclusion of unspecified American business representatives.
Earlier, the organizers revealed that a panel scheduled for Thursday, titled “Russia-USA,” would feature American business figures with connections to Russia discussing ongoing commercial interactions despite the scarce political dialogue since the start of the full-scale invasion of Ukraine.
Among the 50 nations sending government delegates to SPIEF 2025 are China, Vietnam, Iraq, Saudi Arabia, the Central African Republic, and Burkina Faso. Officials from the Taliban also arrived from Afghanistan on Wednesday.
In a noteworthy sign of support for President Vladimir Putin, Indonesian President Prabowo Subianto chose to forgo an invitation to the G7 summit in Canada this week to attend SPIEF and engage with Putin.
Putin is set to deliver his annual keynote address during Friday’s plenary session, alongside Prabowo, Chinese Vice Premier Ding Xuexiang, Bahraini royal Nasser bin Hamad Al-Khalifa, and South African Deputy President Paul Mashatile.
On the first day of the forum, Wednesday, Putin is expected to meet with leaders from major international news organizations.
Similar to previous years, the list of speakers for SPIEF 2025 includes children of Russia’s political elite, notably Putin’s daughter Katerina Tikhonova and Ksenia Shoigu, daughter of former Defense Minister and current Security Council Secretary Sergei Shoigu.
This year’s forum will encompass over 150 business and thematic events centered around the concept of “Shared Values: The Foundation of Growth in a Multipolar World.” These events will feature sessions organized by BRICS, the Shanghai Cooperation Organization, and the Group of 20, as noted by the Kremlin.
Starting Tuesday evening, mobile internet access in St. Petersburg was disrupted as attendees arrived for the forum. Hotels in the city reached full occupancy, and restaurants at the Expoforum convention center raised prices by at least 32%, according to local media reports.
In a message directed at forum attendees, Putin underscored SPIEF 2025’s emphasis on “technology and digital transformation as essential agents of leadership in the contemporary world,” along with discussions on demographics, labor productivity, science and education, healthcare, and social welfare.
The reporting includes contributions from AFP.
