Putin proposes new BRICS investment platform

Russian President Vladimir Putin proposed on Wednesday the creation of a new BRICS investment platform aimed at bolstering national economies and providing financial resources to countries in the Global South and East.

Speaking at an expanded BRICS summit meeting, Putin emphasised the platform’s potential as a powerful tool for economic support.

“We propose creating a new BRICS investment platform, which would become a powerful tool for supporting our national economies and would also provide financial resources to countries of the Global South and East,” Putin stated.

He highlighted that BRICS’ leading position in the global economy will be reinforced by factors such as population growth, capital accumulation, urbanisation, and increased labour productivity, driven by technological innovations.

To fully leverage the new wave of global economic growth, Putin stressed the need for enhanced cooperation in technology, education, resource development, trade, logistics, finance, and insurance, along with increased capital investment.