Russia Begins Its Flagship Economic Forum Despite Pandemic

The Saint Petersburg International Economic Forum (SPIEF), which was cancelled last year, is Russia's main showcase for investors.

A flagship economic forum has returned to Saint Petersburg, with Russia aiming to signal it has moved beyond the coronavirus pandemic and is open for business despite political tensions. The Saint Petersburg International Economic Forum (SPIEF), often dubbed the Russian Davos, officially starts on Thursday and is the country's main showcase for investors, attracting political and business leaders from around the world. It has been hosted every year since 1997 -- cancelled only in 2020 due to the pandemic -- in the hometown of President Vladimir Putin, who is expected to speak at the forum in person on Friday. "The forum is very important for the image of the city, the restoration of the economy's growth and the revival of tourism," Saint Petersburg governor Alexander Beglov told the RIA Novosti news agency.