ST. PETERSBURG, June 7. /TASS/. Attraction of investments to rapidly developing countries in Africa and Asia is possible but requires instruments that would guarantee return on these investments, Russian President Vladimir Putin said at the plenary session of the St. Petersburg International Economic Forum (SPIEF).

"For example, just now our colleague from Zimbabwe spoke about attracting investments. Yes, that’s right, this can be done not only in relation to Zimbabwe, but also in relation to other African countries, this can be done in relation to the countries of South Asia and Asia in general, rapidly developing countries. But we need tools that would guarantee these investments and return on them," he said.

Putin explained that these instruments could be based on the quality of investment projects. Also, if the quality and stability of political regimes are ensured, then it is possible to develop a settlement system "that will be virtually devoid of volatility and will not be subject to inflation."

"This can all be done. We discussed this with my friend and colleague, [Chinese] President Xi Jinping during my trip, we will talk about this with other leaders of the BRICS countries, this is a very important area of joint work," the President added.

The St. Petersburg International Economic Forum (SPIEF) is held on June 5-8. This year’s theme is "The Formation of New Areas of Growth as the Cornerstone of a Multipolar World." Scheduled events include meetings for small and medium-sized businesses, creative industries, the SPIEF Youth Day, as well as the Drug Security, SPIEF Academy and SPIEF Junior forums. SPIEF is organized by the Roscongress Foundation. TASS is the information partner of the event.