Economic cooperation between Russia and the countries of the Middle East is evolving from standalone investment projects to structured, long-term cooperation.
For businesses in the region, Russia is becoming not only a major consumer market but also a platform for joint projects, industrial localization, and technological engagement. Companies from Saudi Arabia, the United Arab Emirates, Qatar, and Oman are increasingly interested in the Russian economy due to a combination of factors: the scale of the domestic market, developed energy and industrial infrastructure, strong engineering expertise, and access to Eurasian markets.
The Russian Direct Investment Fund (RDIF) plays a significant role in advancing economic cooperation by implementing joint projects with the region’s leading sovereign wealth funds. In particular, RDIF and Mubadala (UAE) have established a joint platform to channel capital into the Russian economy. Similar mechanisms have also been established with the Public Investment Fund (Saudi Arabia), which considers Russia one of its priority destinations for long-term investment.
Among active investors viewing Russia as a promising destination is the Qatar Investment Authority (QIA), which has publicly expressed interest in Russian infrastructure and financial assets. The UAE’s Masdar has also shown sustained interest in energy and green technology projects, exploring opportunities to expand its international portfolio across Eurasian markets.
The total value of announced and ongoing joint projects between RDIF and Middle Eastern partners is estimated at tens of billions of US dollars, covering infrastructure, energy, logistics, and high-technology sectors.
The St. Petersburg International Economic Forum (SPIEF) and the Roscongress International— the platform for engagement with foreign business communities — play a key role in this process.
The Forum serves as a central hub for launching and supporting cross-border projects. Each year, agreements between Russian companies and investors from the Middle East are signed at SPIEF, which in 2026 will take place from June 3 to 6.
SPIEF annually becomes a venue for signing hundreds of agreements, a significant portion of which are investment projects intended for medium- and long-term implementation. Over the years, the Forum facilitated agreements involving ACWA Power (Saudi Arabia) in energy and water technologies, as well as logistics and port initiatives with DP World (UAE), which is focused on developing transport corridors and terminal infrastructure in Russia and neighboring regions.
Comprehensive support for foreign participants is provided by the Roscongress International Platform. The platform organizes participation of international delegations in SPIEF, overseas roadshows and business forums, and provides analytical and advisory support to companies from abroad.
Alexey Valkov, Director of the St. Petersburg International Economic Forum, said that it was critically important for them that foreign businesses view SPIEF not as a one-off event but as an entry point into long-term cooperation with the Russian economy. He added that the Roscongress International builds this continuous cooperation framework — from first contacts to the launch of joint projects.
In 2025, the Foundation organized and operated on the Russian side such overseas events as the Russia–Qatar Business Forum, Russia–Oman Business Forum, Russia–UAE Business Forum, and the Russia–Saudi Business Forum in Riyadh, confirming that the Middle East remains a priority region for expanding cooperation.
Representatives of Middle Eastern business communities emphasize the practical value of participating in SPIEF as a gateway to the Russian market.
“The St. Petersburg International Economic Forum offers a rare opportunity to hold direct negotiations with key Russian partners and regulators in a short time frame. For international businesses, this significantly accelerates investment decision-making,” Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, said in an interview on the sidelines of SPIEF.
The region’s energy sector also shares this perspective.
“Participation in SPIEF allows us to better understand Russia’s strategic priorities and identify areas for long-term cooperation in energy and infrastructure,” Marco Arcelli, CEO of ACWA Power, noted.
In 2025, the St. Petersburg International Economic Forum welcomed more than 24,200 participants and media representatives from 144 countries and territories. The largest foreign delegations came from Indonesia (over 260 participants), China (250), the United Arab Emirates (over 120), Bahrain (over 80), and Saudi Arabia (over 80). As a result of SPIEF-2025, 1,060 agreements worth a total of RUB 6.3 trillion (approximately USD 80.2 billion) were signed. Bahrain was the guest country of SPIEF 2025, while Saudi Arabia has been announced as the guest country for SPIEF 2026.
The Roscongress Foundation is a socially oriented non-financial development institution and a major organizer of nationwide and international conventions; exhibitions; and business, public, youth, sporting, and cultural events. It was established in pursuance of a decision by the President of the Russian Federation.
The Foundation was established in 2007 with the aim of facilitating the development of Russia’s economic potential, promoting its national interests, and strengthening the country’s image. One of the roles of the Foundation is to comprehensively evaluate, analyse, and cover issues on the Russian and global economic agendas. It also offers administrative services, provides promotional support for business projects and attracting investment, helps foster social entrepreneurship and charitable initiatives.
Each year, the Foundation’s events draw participants from 209 countries and territories, with more than 15,000 media representatives working on-site at Roscongress’ various venues. The Foundation benefits from analytical and professional expertise provided by 5,000 people working in Russia and abroad.
The Foundation works alongside various UN departments and other international organizations, and is building multi-format cooperation with 229 economic partners, including industrialists’ and entrepreneurs’ unions, financial, trade, and business associations from 90 countries worldwide, and 360 Russian public organizations, federal and regional executive and legislative bodies of the Russian Federation.
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