June 19, The Agency reported that the situation at the St. Petersburg International Economic Forum (SPIEF) in Russia shows that Western companies have no intention of returning to the Russian market. The report pointed out that Russia has lost its appeal to large foreign enterprises, major economies including Asia, and even domestic enterprises.
- The previous expectation that Western companies would return to Russia was based on the unexpected improvement in Russia-US relations after Trump's re-entry into the White House.
- Despite multiple talks between Putin and Trump, large American investors still did not attend the forum.
- The absence of Western investors made the outside world lose hope for the recovery of foreign investment inflows in Russia.
- Even Russian tycoons showed little interest: among the 50 Russian billionaires, only 6 attended the forum.
- The speakers at many meetings were mainly government officials and executives of state-owned enterprises.
- The only foreign dignitary present was Indonesian President Prabowo Subianto, and the trade volume between Russia and Indonesia accounted for less than 1% of its total foreign trade.
- Robert Edgington, president of the American Chamber of Commerce, clearly stated in an interview with Reuters that American companies will only consider returning to Russia if the Ukraine war ends.
Original article: https://www.toutiao.com/article/1835405803560076/
Disclaimer: This article represents the author's personal views.