First deputy Premier states Russia is open to ‘smart’ foreign investment
(MENAFN) Russia remains open to foreign investment but emphasizes that it must be “smart” and aimed at advancing new technological capabilities, stated First Deputy Prime Minister Denis Manturov at the St. Petersburg International Economic Forum (SPIEF 2025) on Wednesday.
Manturov praised most foreign companies that stayed in Russia despite Western sanctions, noting they have acted responsibly by investing in scientific and technological development and maintaining their market positions. However, he stressed that future investments should follow clear business principles and extend beyond simply increasing production capacity.
He reaffirmed that Russia is not closing the door on foreign investors but highlighted the country's resilience under sanctions and its ability to address economic challenges domestically. Manturov emphasized the importance of selecting investment partners carefully, prioritizing those that contribute to strengthening Russia’s technological foundation.
“In the future, we need clear business rules for foreign investors. We welcome them, but investments must be strategic — focused on developing new technological competencies in areas with growth potential,” he said.
His comments come amid the drafting of new Russian legislation that would regulate foreign companies’ rights to reclaim assets sold during their 2022 exit following the Ukraine conflict escalation. The law could allow authorities or current owners to refuse buybacks if the repurchase price is below market value or if more than two years have passed since the sale, provided obligations to employees and creditors were met.
Since many foreign firms left the Russian market, domestic and Chinese brands have expanded to fill the gap, making it harder for Western companies to return, especially in sectors like automotive and fashion.
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