Staffing table: Russia will launch 15 joint ventures with the Americans by the end of the year

By the end of the year, 10-15 joint ventures with American businesses will be launched in Russia, said Dmitriev, head of the Russian Direct Investment Fund, after breakfast with representatives of the American Chamber of Commerce. The event was held as part of the St. Petersburg International Economic Forum. And First Deputy Prime Minister Denis Manturov noted that Russia does not refuse to cooperate with foreign investors, but will adhere to certain principles. The business of which countries came to SPIEF 2025 and what else was discussed at the forum can be found in the Izvestia article.

Joint ventures with Americans

The creation of joint ventures and the return of some American companies to Russia were discussed at a business breakfast by Kirill Dmitriev, head of the Russian Direct Investment Fund (RDIF), Special Representative of the President of the Russian Federation for Investment and Economic Cooperation with Foreign countries, with members of the American Chamber of Commerce in Russia on the first day of SPIEF 2025.

The head of the Russian Direct Investment Fund recalled that, against the background of their own sanctions, the Americans had missed about $ 300 billion over several years, so the parties had something to discuss on the merits. For example, foreign colleagues shared their difficulties. So, the American guests recalled the existence of a document that was signed by the administration of President Joe Biden. It's about banning new investments in the Russian economy.

Entrepreneurs actively give feedback to Donald Trump about what prevents them from such a harsh working condition, the business insists on its revision, Kirill Dmitriev said after a business breakfast.

He also said that 10-15 new joint ventures with American companies in various fields could be launched in Russia by the end of the year.

— We are already discussing joint investments in the Arctic, rare earth metals, infrastructure, pharmaceuticals and other sectors. Of course, priority is given to Russian companies, so many American investors will enter the country in partnership with our business. We will get direct benefits from cooperation with partners from the United States," said the head of the Russian Direct Investment Fund.

Kirill Dmitriev emphasized that many American companies have remained in Russia and continue to actively and successfully develop in our country.

—We also see that there were many questions from those American investors, companies that came here to expand their presence in the Russian market, in order to invest in the Russian Federation," he said.

According to him, most investors understand the multiple and rapid growth in the number of investments when relations between the countries recover.

— I think the answer is (regarding the lifting or easing of sanctions. — Ed.) will be positive as soon as the conflict in Ukraine is over. It depends on the dialogue between the presidents of Russia and the United States, Vladimir Putin and Donald Trump," Robert Agee, head of the American Chamber of Commerce in Russia, told Izvestia. — The Trump team, regardless of whether they are interested in lifting sanctions as such, is definitely interested in restoring a positive dialogue with Russia.

According to him, Russia has always been considered a strategic market for Western companies, it is a large, important market with a lot of resources, human and natural. Therefore, I think it is natural that companies want to work in Russia, he added.

Conditions for the return of companies to the Russian Federation

First Deputy Prime Minister Denis Manturov noted that Russia does not refuse to cooperate with foreign investors, but will adhere to certain principles. According to him, investments from other states should go not only into the creation of production facilities, but also into the creation of new technological competencies in relevant areas.

— But, as I have already said, it is necessary that these investments be smart. So that these investments are not just in capacity creation, but, first of all, in the creation of new technological competencies in those areas that still require additional development and investments," he said at the panel session "Scenarios of technological repatriation: the role and place of foreign companies in the Russian market."

The parties began discussing possible terms of cooperation in common projects, we are talking about positive rhetoric, but these are impulses, not real actions, Georgy Ostapkovich, head of the HSE Center for Market Research, told Izvestia. Until the international conflict enters a peaceful phase, it is too early to talk about real progress, the expert is sure.

— Americans have always been the more open side, which willingly shares its plans and actions. But I am sure that our colleagues from the European Union, private business, are also in dialogue with Russian companies, discussing the prospects for cooperation," he said. — Yes, not all foreign companies are likely to return to Russia, their market needs to be protected, as is customary in countries around the world.

But if we are talking about a business whose products we need, for example, chips, then, of course, we will need to discuss the terms of cooperation with foreign entrepreneurs, the expert is sure. We should be talking about joint ventures, the blocking stake of which should be held by Russians, he believes.

Which countries' representatives came to SPIEF 2025

SPIEF 2025 will be rich in business events. According to experts, as Izvestia has already written, contracts worth 7-7.5 trillion rubles will be announced at the forum. This will be more than the result of the last business season in St. Petersburg, when businesses announced agreements worth 6.4 trillion rubles. In addition to the Americans, the delegations of Africa, Bahrain, India, Iran, China and the European Union will exchange views in the format of a business dialogue. Russia plans to sign a declaration on strategic partnership with Indonesia. In total, about 50 countries will attend the forum.

Bahrain is one of the most representative delegations and a guest at the forum. It is headed by the king's son, the monarch's national security adviser and National Guard commander Nasser ibn Hamad Al Khalifa. The stand of this country at the SPIEF is royal in scope, but without frills, nevertheless, the format of the event is businesslike, and important decisions are ahead.

Ahmed Alsalloum, a member of the delegation, told Izvestia about plans to sign six memorandums of understanding through the Bahrain Chamber of Commerce to begin cooperation with Russian companies.

— Russia is a very important country for the region. That is why we are here to meet with representatives of many countries and companies cooperating with Bahrain. We see many opportunities in gas, oil, technology, and pharmaceuticals. So at this forum we are focusing our attention on these areas," he said.

Representatives of the delegation have already participated in the session "The role of SMEs in achieving new national goals" with Deputy Prime Minister Alexander Novak.

There is an obvious interest in Russia and its opportunities in such promising regions as Asia and Africa. For example, a representative of the Indian business diaspora arrived in St. Petersburg right in time for the forum - there was almost no time to see the city, the whole focus was on developing cooperation.

— I am part of a group on Russian SMEs that want to work with India. I will talk about the shortage of labor in the Russian Federation and how Russian SMEs can cooperate with India to make up for this shortage," the businessman told Izvestia.

Give a forum: the volume of contracts for SPIEF-2025 will reach 7.5 trillion

What topics will be central to the main business event of the year and where will the guests come from this time?

A large number of participants represent African businesses, including guests from Zambia, South Africa, and Uganda. Marvin Tumvisi from Giika Analytics, an AI data analysis company, is not coming to St. Petersburg for the first time.

— SPIEF gives us a very good opportunity to connect with like—minded people and entrepreneurs from Europe and Asia in the field of our interests, such as finance, real estate and data analytics, - he said.

Another entrepreneur from Uganda, Jason Tsai, director of Castle Industries, expects to find partners for the purchase of liquefied petroleum gas at the forum.

— Russia is a major player both in the field of gas and in the field of data analysis. There is literally not a single area that you could mention, and Russia would not be a major player there," he said.

Uganda has joined BRICS as a partner state since 2025. Participation in the SPIEF only confirms the association's ability to create new economic opportunities on equal terms, especially for the countries of the Global South.