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Russia will create favorable conditions for foreign investors — Putin

The Russian president noted that fixed capital investment in Russia increased by 8.7% in the first quarter of this year

ST. PETERSBURG, June 20. /TASS/. Russia will make every effort to establish favorable conditions for foreign investors, Russian President Vladimir Putin said during the plenary session of the St. Petersburg International Economic Forum (SPIEF).

"We unequivocally welcome foreign investment. And not only do we welcome it, we will also do everything possible, by every available means, to ensure that our partners feel comfortable operating here," he said.

Putin noted that fixed capital investment in Russia increased by 8.7% in the first quarter of this year. "Currently, fixed capital investment in the first quarter of this year [has grown by] 8.7%. I know there have been discussions on this topic at the forum, particularly regarding well-known challenges and the pressure stemming from a high key interest rate, [with some saying] investments may not be sustained until the end of the year. Nevertheless, the Central Bank proceeds from the assumption that investment-sector lending will remain around 10-11% by year-end. We shall see how it turns out. I would very much like this to be the case," the president concluded.

About the forum

The St. Petersburg International Economic Forum (SPIEF) is taking place on June 18-21. This year, the event is held under the theme "Shared Values: The Foundation of Growth in a Multipolar World." Thematic zones such as the ‘Territory of Innovations’ and the national brand space ‘Buy Russian!’ will operate at the Forum.

The program includes the SME Forum, the Creative Industries Forum, the Day of the Future International Youth Economic Forum, the Drug Security Forum, and the Roscongress Urban Hub discussion platform. As part of the cultural program, the Petersburg Seasons festival will be held, and the SPIEF Sports Games will take place.

The Roscongress Foundation is the organizer of the St. Petersburg International Economic Forum. TASS is its information partner.

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