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Sovereign Development a Key Topic at SPIEF and EEF in 2023

Sovereign Development a Key Topic at SPIEF and EEF in 2023

The analytical report entitled "Sovereignty as a Path to Prosperity" was prepared by the All-Russian Public Opinion Research Center (VTsIOM) jointly with the Roscongress Foundation with support from Business Russia.

The detailed presentation of the report will take place ahead of the 8th Eastern Economic Forum to be held in Vladivostok on 10–13 September 2023.

Against the background of global changes in the existing world order, strengthening of external threats, and toughening of Western sanctions, the issue of sovereign development of Russia, including in the field of economy, is growing in urgency.

Based on the participant surveys, the main seven conclusion areas were outlined.

One of the focuses was the issue of sovereignty and proposals for the country's economic development. Experts emphasize that in the emerging global situation, it is impossible to close exclusively on the Russian market or refuse to interact with any foreign economic players, and it is impossible to be excluded from the global economy.

The next block is sanctions: experts believe that this regime is an objective reality that must be accepted and learned to live with. However, there is a positive effect: the departure of competitors stimulates the growth and development of Russian companies.

One of the responses to Western sanctions was the policy of parallel imports. The majority of respondents called the policy of parallel imports a positive practice that has significantly helped companies over the past year. Nevertheless, they consider it to be a short-term option.

Import substitution has also become a measure against Western sanctions. However, it is emphasized that it should not be total: it is important to develop in all sectors, especially in critical areas, but it is impossible to refuse foreign brands, medicines, technical achievements. Their presence increases the level of comfort and stimulates competition.

Reducing of Russia's role as a raw materials exporter also is an objective reality, but such measures are useful for diversifying the economy, so it is important to develop exports in competitive, high-tech industries.

Despite the fact that the turn to the East has already happened, a long-term state strategy related to the new direction of development should be developed. Russia's role as a transportation and logistics hub (North-South corridor, Silk Road) is growing, and the country needs to develop as a global logistics operator.

The surveys also identified the main "pains" of business, in particular: the definition of a long-term strategy for the country's economic development, "predictable policy" and financial support mechanisms.

The entire report is available at: roscongress.org.

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