The plenary session of the 28th St Petersburg International Economic Forum is now underway

This year's theme is "Shared Values: the Foundation of Growth in a Multipolar World."

Along with Vladimir Putin, the event will be attended by:

🇮🇩President of Indonesia Prabowo Subianto;

🇧🇭 Personal Representative of His Majesty the King of Bahrain for Philanthropy and Youth Affairs, President of the Supreme Council for Youth and Sport, National Security Advisor, Commander of the Royal Guard of the Kingdom of Bahrain, and head of the Bahraini delegation at the 28th St Petersburg International Economic Forum Nasser bin Hamad Al Khalifa;

🇨🇳Member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, Vice Premier of the State Council of the People's Republic of China Ding Xuexiang;

🇿🇦Deputy President of South Africa Paul Mashatile.

The discussion is moderated by journalist, general manager and presenter of the Sky News Arabia channel Nadim Daoud Koteich.

See more on the Kremlin’s official website.

"The idea of the Russian economy being completely commodity-based and dependent on the exports of hydrocarbons is evidently outdated, it is becoming a thing of the past"

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"Our current task is to make sure our economy is on a trend of balanced growth. This balanced growth implies moderate inflation, as well as low unemployment rate"

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"Our strategic task is to be active and consistent in changing the structure of the Russian economy. We have made great headway in that regard. But it is of paramount importance to keep advancing, given the drastic changes across the world"

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"We have managed to achieve a record low of unemployment rate"

We are also witnessing positive dynamis in those Russian regions that traditionally have been facing acute problems in employment. This is thanks to well-informed stimulating macroeconomic policies as well as active efforts by the regional authorities with the support of federal employment programmes, as well as the implementation of state-of-the-art technological solutions, such as platform-based employment and digital marketplaces.

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The President spoke on business activity and investment climate

Let me remind you that we have set a goal for ourselves: the capital investment in Russia by 2030 has to grow by no less than 60 percent against 2020.

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On establishing a National Model of Business Environment Target Indicators

The goal for the National Model is to make sure that by 2030, Russia is among top twenty leading countries in terms of business conditions, taking into account the updated international practices, and serves as an example for our BRICS partners.

Most importantly, the business climate has to allow us to enhance the basis of our economy to make it more sustainable, and at the same time dynamic and aimed at producing goods and services and promoting them on the domestic market and for the global export markets.

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"The Russian economy should be more technological. And it is not just a wish; it is an objective requirement of the world of today and tomorrow"

We are to fully embrace a new stage of technological development of our country. The key instruments will be national projects for ensuring technological leadership. They were launched this year, and together with colleagues, we have agreed that events included in these national projects will be updated and expanded.

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"Unlike most countries that depend on global platforms, Russia has good examples of successful domestic e-trading platforms. It is a real and tangible achievement of Russian business, which we can be proud of"

According to experts, Russian e-commerce companies Wildberries and Ozon are ranked ninth and tenth respectively among the world's largest online retailers.

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"We seek to achieve a balanced global development, so that this development is aligned with interests of as many countries as possible. We seek to build a multipolar world order"

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"You said: 'The Russian Federation and China shape a new world order.' Russia and China are not shaping a world order. We are only identifying its scope. The new world order emerges on its own. It is just like watching the sun rise: there is no way you can run away from it."

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"We are not seeking an unconditional surrender from Ukraine. We insist that Ukraine recognises the realities that we have on the ground"

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