On November 26 to 28, 2025 the first Russian-Thai Investment Forum was held at Phuket bringing together businesspeople, investors and government representatives from Russia, Thailand and other countries. Over the course of three days the forum was attended by over 1,100 guests. Participants represented dozens of countries from Russia and Thailand to China, Southeast Asia, Europe and the Middle East.
Key topics of the forum included development, digitalization, logistics, tourism, construction, medicine and the creative economy. These areas were the most popular among participants in the pre-forum survey.
The main event of the forum was the plenary session "Russia and Thailand: Investing in a Common Future." Business leaders and government officials attended, discussing the current state and prospects of bilateral cooperation amid the steady growth of trade turnover. Russian Minister of Foreign Affairs Sergey Lavrov addressed the forum participants with a welcome address emphasizing the high level of bilateral relations rooted in long-standing traditions of mutually beneficial cooperation between the two countries.
"Relations between Thailand and Russia, which have spanned over 128 years, have consistently developed based on mutual respect and a commitment to practical cooperation. Today we see great potential for further deepening our economic ties – from trade and tourism to new industries and innovation. The prospects for a free trade agreement with the Eurasian Economic Union (EAEU) and the work of the joint Thai-Russian commission remain important tools for moving us forward," said Vichavat Isarabhakdi, Deputy Minister of Foreign Affairs of the Kingdom of Thailand.
According to 2025 data, trade turnover between Russia and Thailand continues to strengthen: in January-February 2025 it amounted to $328.9 million, a 10.6% increase compared to the same period in 2024. Russian exports reached $139.7 million (up 7.7%), while imports from Thailand totaled $189.2 million.
Chairman of the Russian-Thai Business Council and shareholder in the Novostal-M metallurgical holding Ivan Demchenko emphasized that the countries are moving to a new level of cooperation.
"It is impossible to isolate Russia from the global economy. Thailand remains Russia's most reliable partner in the region not having joined the sanctions. We see prospects in construction, trade and the creation of joint business infrastructure – banks, investment platforms and logistics routes. There is particular potential in developing leasing including aviation leasing," he noted.
The country is actively developing as a hub for industrial production: automotive, electronics, chemical and logistics industries – all of this makes Thailand an attractive destination for investors. The forum emphasized that similar foreign projects, such as factories, industrial facilities, logistics sites and IT infrastructure could find a second home here.
"Today Thailand is one of the key and most dynamic economies in Southeast Asia. Amid the rapid growth of the country's digital infrastructure, the construction of modern data centers is significantly increasing. Rosatom is ready to provide a reliable energy base for this process through both large-scale nuclear power plant solutions and modern small modular reactors both onshore and offshore," noted Ilya Bychkov, Regional Director for Business Development in Thailand, Laos and Myanmar at RMS.
One advantage for investors is the incentives offered through the Board of Investment of Thailand (BOI): upon project approval, investors may be able to purchase land significantly simplifying the launch of local production. Investors from Russia and other countries are actively considering projects in this sector as well as IT, biotechnology, logistics, and development.
Among Russian companies already beginning sales in Thailand is BioMicroGels which has leased a factory in the Laem Chabang port area to produce biopolymer-based reagents for water purification. Production is expected to begin in April 2025. Another example is Amarant Agro which is considering producing snacks, oil, feed and bioactive supplements at a contract site in Thailand.
Experts note that Russian businesses are becoming increasingly prepared: companies with well-developed legal structures, financial models and strategies taking into account all the nuances of Thai regulation and local business culture, are entering the market. Such companies are capable of building sustainable businesses even while competing in the Asian market. An exhibition space was set up at the forum to showcase best business practices from Russia and Thailand. It brought together the largest Russian and Thai brands of development and investment companies; forum participants had access to the B2B zones of the Russian Export Center “Made in Russia” and the international platform Roscongress International and “Innovations Territory”.
"The Russian Export Center promotes Russian products including through the Made in Russia program and we see significant potential for growing cooperation across a wide range of sectors. We've already seen significant growth in agricultural and FMCG exports to Thailand. One promising area of mutual interest is developing cooperation in high technology, particularly smart cities. At the same time growth potential remains in traditional sectors. For example the tourism boom is naturally driving increased demand for Russian construction materials in the Thai market. Investments in Thailand are already underway: Russians are actively purchasing real estate but it's important to shift the focus to industrial investment for sustainable development," said Nikita Gusakov, Senior Vice President of the Russian Export Center (REC, VEB.RF) at the plenary session "Russia and Thailand. Investing in a Common Future."
Official speeches at the forum emphasized a commitment to further developing the partnership. The need to create joint financial, logistics and business platforms as well as Russian and Thai banks was also noted. These could simplify payments and reduce dependence on restrictions.
"The potential for cooperation between Russia and Thailand extends far beyond traditional sectors. Education and creative industries are particularly important – a number of agreements were signed this year between universities in the two countries and creative sector organizations. These areas form the basis for long-term cooperation and mutual understanding. Medicine, logistics, energy, construction, real estate and innovation also remain promising," noted Alexander Stuglev, Chairman of the Board and CEO of the Roscongress Foundation.
As part of the business program, the Russian-Thai Business Council signed key memoranda of cooperation with the Thai-Russian Business Council and the Digital Council of Thailand. Following the forum further meetings, negotiations and detailed project development are planned. Thus RTIF2025 in Phuket became more than just a platform for dialogue; it became a launching pad for the implementation of real projects.
If Russian companies take advantage of Thailand's advantages – from BOI incentives to its developed infrastructure and favorable geographic location – cooperation could reach a fundamentally new level. This could ultimately lead to sustainable export growth, expanded joint ventures and a stronger Russian economic presence in Southeast Asia.
"Initially we estimated the investment potential of joint projects at approximately $1 billion. However, the forum's results showed that the actual scale is significantly higher – approximately $3 billion. We are also confident of increased trade turnover next year. Its exact parameters remain to be determined but our goal is to achieve a significant increase," concluded Ivan Demchenko, Chairman of the Russian-Thai Business Council.
For reference:
The Russian-Thai Investment Forum is the largest annual platform for establishing long-term business ties between Russian and Thai companies, promoting mutually beneficial economic cooperation and the implementation of joint investment projects.
The Forum is organized by the Russian-Thai Business Council (Association for the Development of Entrepreneurship and Support of Business Ties with Thailand). The Council is a key Russian platform that promotes business and investment, strengthens business contacts and creates conditions for mutually beneficial partnerships and long-term cooperation between Russia and Thailand.
The Forum's co-organizers are the Royal Thai Embassy in Russia, the Russian Embassy in Thailand and the Ministry of Industry and Trade of the Russian Federation.
Rosatom Corporation and Sberbank are partners of the business program. Strategic partner: Made in Russia.
Media partners: Forbes and Russian Radio.
Organizational partners: the Roscongress Foundation, the Russian Chamber of Commerce and Industry and the all-Russian public organization Delovaya Rossiya. The official transport company for the Phuket forum is Etagi.
Key topics of the forum included development, digitalization, logistics, tourism, construction, medicine and the creative economy. These areas were the most popular among participants in the pre-forum survey.
The main event of the forum was the plenary session "Russia and Thailand: Investing in a Common Future." Business leaders and government officials attended, discussing the current state and prospects of bilateral cooperation amid the steady growth of trade turnover. Russian Minister of Foreign Affairs Sergey Lavrov addressed the forum participants with a welcome address emphasizing the high level of bilateral relations rooted in long-standing traditions of mutually beneficial cooperation between the two countries.
"Relations between Thailand and Russia, which have spanned over 128 years, have consistently developed based on mutual respect and a commitment to practical cooperation. Today we see great potential for further deepening our economic ties – from trade and tourism to new industries and innovation. The prospects for a free trade agreement with the Eurasian Economic Union (EAEU) and the work of the joint Thai-Russian commission remain important tools for moving us forward," said Vichavat Isarabhakdi, Deputy Minister of Foreign Affairs of the Kingdom of Thailand.
According to 2025 data, trade turnover between Russia and Thailand continues to strengthen: in January-February 2025 it amounted to $328.9 million, a 10.6% increase compared to the same period in 2024. Russian exports reached $139.7 million (up 7.7%), while imports from Thailand totaled $189.2 million.
Chairman of the Russian-Thai Business Council and shareholder in the Novostal-M metallurgical holding Ivan Demchenko emphasized that the countries are moving to a new level of cooperation.
"It is impossible to isolate Russia from the global economy. Thailand remains Russia's most reliable partner in the region not having joined the sanctions. We see prospects in construction, trade and the creation of joint business infrastructure – banks, investment platforms and logistics routes. There is particular potential in developing leasing including aviation leasing," he noted.
The country is actively developing as a hub for industrial production: automotive, electronics, chemical and logistics industries – all of this makes Thailand an attractive destination for investors. The forum emphasized that similar foreign projects, such as factories, industrial facilities, logistics sites and IT infrastructure could find a second home here.
"Today Thailand is one of the key and most dynamic economies in Southeast Asia. Amid the rapid growth of the country's digital infrastructure, the construction of modern data centers is significantly increasing. Rosatom is ready to provide a reliable energy base for this process through both large-scale nuclear power plant solutions and modern small modular reactors both onshore and offshore," noted Ilya Bychkov, Regional Director for Business Development in Thailand, Laos and Myanmar at RMS.
One advantage for investors is the incentives offered through the Board of Investment of Thailand (BOI): upon project approval, investors may be able to purchase land significantly simplifying the launch of local production. Investors from Russia and other countries are actively considering projects in this sector as well as IT, biotechnology, logistics, and development.
Among Russian companies already beginning sales in Thailand is BioMicroGels which has leased a factory in the Laem Chabang port area to produce biopolymer-based reagents for water purification. Production is expected to begin in April 2025. Another example is Amarant Agro which is considering producing snacks, oil, feed and bioactive supplements at a contract site in Thailand.
Experts note that Russian businesses are becoming increasingly prepared: companies with well-developed legal structures, financial models and strategies taking into account all the nuances of Thai regulation and local business culture, are entering the market. Such companies are capable of building sustainable businesses even while competing in the Asian market. An exhibition space was set up at the forum to showcase best business practices from Russia and Thailand. It brought together the largest Russian and Thai brands of development and investment companies; forum participants had access to the B2B zones of the Russian Export Center “Made in Russia” and the international platform Roscongress International and “Innovations Territory”.
"The Russian Export Center promotes Russian products including through the Made in Russia program and we see significant potential for growing cooperation across a wide range of sectors. We've already seen significant growth in agricultural and FMCG exports to Thailand. One promising area of mutual interest is developing cooperation in high technology, particularly smart cities. At the same time growth potential remains in traditional sectors. For example the tourism boom is naturally driving increased demand for Russian construction materials in the Thai market. Investments in Thailand are already underway: Russians are actively purchasing real estate but it's important to shift the focus to industrial investment for sustainable development," said Nikita Gusakov, Senior Vice President of the Russian Export Center (REC, VEB.RF) at the plenary session "Russia and Thailand. Investing in a Common Future."
Official speeches at the forum emphasized a commitment to further developing the partnership. The need to create joint financial, logistics and business platforms as well as Russian and Thai banks was also noted. These could simplify payments and reduce dependence on restrictions.
"The potential for cooperation between Russia and Thailand extends far beyond traditional sectors. Education and creative industries are particularly important – a number of agreements were signed this year between universities in the two countries and creative sector organizations. These areas form the basis for long-term cooperation and mutual understanding. Medicine, logistics, energy, construction, real estate and innovation also remain promising," noted Alexander Stuglev, Chairman of the Board and CEO of the Roscongress Foundation.
As part of the business program, the Russian-Thai Business Council signed key memoranda of cooperation with the Thai-Russian Business Council and the Digital Council of Thailand. Following the forum further meetings, negotiations and detailed project development are planned. Thus RTIF2025 in Phuket became more than just a platform for dialogue; it became a launching pad for the implementation of real projects.
If Russian companies take advantage of Thailand's advantages – from BOI incentives to its developed infrastructure and favorable geographic location – cooperation could reach a fundamentally new level. This could ultimately lead to sustainable export growth, expanded joint ventures and a stronger Russian economic presence in Southeast Asia.
"Initially we estimated the investment potential of joint projects at approximately $1 billion. However, the forum's results showed that the actual scale is significantly higher – approximately $3 billion. We are also confident of increased trade turnover next year. Its exact parameters remain to be determined but our goal is to achieve a significant increase," concluded Ivan Demchenko, Chairman of the Russian-Thai Business Council.
For reference:
The Russian-Thai Investment Forum is the largest annual platform for establishing long-term business ties between Russian and Thai companies, promoting mutually beneficial economic cooperation and the implementation of joint investment projects.
The Forum is organized by the Russian-Thai Business Council (Association for the Development of Entrepreneurship and Support of Business Ties with Thailand). The Council is a key Russian platform that promotes business and investment, strengthens business contacts and creates conditions for mutually beneficial partnerships and long-term cooperation between Russia and Thailand.
The Forum's co-organizers are the Royal Thai Embassy in Russia, the Russian Embassy in Thailand and the Ministry of Industry and Trade of the Russian Federation.
Rosatom Corporation and Sberbank are partners of the business program. Strategic partner: Made in Russia.
Media partners: Forbes and Russian Radio.
Organizational partners: the Roscongress Foundation, the Russian Chamber of Commerce and Industry and the all-Russian public organization Delovaya Rossiya. The official transport company for the Phuket forum is Etagi.