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VTB chief announces growing interest in Russia from Chinese, Persian Gulf investors

Andrey Kostin noted that the Russian market needed foreign investors

ST. PETERSBURG, June 3. /TASS/. Chief Executive Officer of VTB Andrey Kostin has called the growing interest of investors from China, the Persian Gulf states, and other countries in Russia a good sign.

"A definite turnaround has emerged, especially among investors. We’re seeing interest from China and the Persian Gulf countries. They have started to carefully, cautiously probe, or even work on investments in Russia, something that wasn’t happening recently, and that’s a good sign because our market needs foreign investors, we don’t have enough of our own," he told reporters at the St. Petersburg International Economic Forum (SPIEF).

The St. Petersburg International Economic Forum is taking place on June 3-6. This year’s theme is "Pragmatic Dialogue: the Path to a Stable Future." The forum program is dedicated to shaping a new model of global development amid the ongoing transformation of the world economy.

The program includes the SME Forum, the Creative Industries Forum, the Day of the Future International Youth Economic Forum, and the Ensuring Drug Security Forum. As part of the cultural program, the Petersburg Seasons festival and the traditional SPIEF Sports Games will take place. This year, Russia’s national economic development institution VEB.RF is the title partner of SPIEF.

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

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FACTBOX: St. Petersburg International Economic Forum

The St. Petersburg International Economic Forum is Russia’s leading annual economic conference, held since 1997