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ST. PETERSBURG — The head of Russia's VTB bank, Andrey Kostin, said on Tuesday that investors from China, the Persian Gulf states, and other countries are showing growing interest in Russia, describing the trend as a positive development for the Russian market.

Speaking to reporters at the St. Petersburg International Economic Forum (SPIEF), Kostin said: "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."

According to TASS, the state-run Russian news agency, Kostin's remarks came on the opening day of the 29th edition of the forum, which runs from June 3 to 6 under the theme "Pragmatic Dialogue: The Path to a Stable Future."

Coverage Comparison

Both reports from TASS focused on Kostin's statements and the forum's agenda. The first report highlighted his comments on investor interest, while the second emphasized planned high-level meetings with representatives from Saudi Arabia, Bahrain, and the United Arab Emirates. Neither report included independent commentary or reactions from other participants.

The forum's program, as described in both articles, includes several thematic sessions such as the SME Forum, the Creative Industries Forum, the Day of the Future International Youth Economic Forum, and the Ensuring Drug Security Forum. Cultural events include the Petersburg Seasons festival and the SPIEF Sports Games.

Saudi Arabia is designated as the guest country at this year's forum, according to one of the reports. VEB.RF, Russia's national development institution, is the title partner, and the Roscongress Foundation organizes the event. TASS serves as the official general information partner.

Key Claims

  • Kostin stated that investors from China and Persian Gulf countries are showing renewed interest in Russia, calling it a "good sign" for the market.
  • He said his bank plans to hold high-level meetings with representatives from Saudi Arabia, Bahrain, and the UAE on the forum's sidelines, at least at the ministerial or major business level.
  • The forum is being held under the theme "Pragmatic Dialogue: The Path to a Stable Future" and aims to address the transformation of the global economy.

Perspectives

Russian official/economic perspective: Kostin's remarks, as carried by TASS, reflect a cautiously optimistic view of foreign investment inflows, particularly from Asia and the Middle East, as Russia seeks to diversify its economic partnerships.

International business perspective: The reported interest from Chinese and Gulf investors suggests a gradual re-engagement with the Russian market, though Kostin's language — "carefully, cautiously probe" — indicates that investors remain wary, likely due to sanctions and geopolitical risks.

Forum context: SPIEF serves as a key platform for Russia to project economic openness and attract foreign capital. The presence of Saudi Arabia as guest country underscores Moscow's efforts to strengthen ties with Gulf states.

This article is based on reporting from TASS. No independent verification of Kostin's statements or the planned meetings was available at the time of writing.