"Capitalism with a Human Face": Sergey Ivanov at the SPIEF 2025 session dedicated to Open Dialogue in the National Centre RUSSIA.

New capitalism is aimed at economic benefit, said Sergey Ivanov, Executive Director, member of the Board of Directors of EFKO Group of Companies, during the opening session of the 25th St. Petersburg International Economic Forum, dedicated to the first international Open dialogue in Russia that was held at the National Centre RUSSIA

Speaking in the theme track "Shaping a new economic wave", Sergey Ivanov talked about the new responsibility of business in the modern world. The expert is sure that business today is not just a profit generator, but also an active participant in social transformations.

"What projects and technologies should we invest in today? The investment criteria are three conditions: to improve human life qualitatively, to produce in harmony with nature, and to be accessible — at least, to have the potential for mass production. But it's much more important not just what you produce, but also in what culture you do it. In 2012, the President said the words that I have often quoted lately. He said that the great mission of Russians is to unite and consolidate civilization with the means of culture, language, and universal responsiveness. And so, we try to build our culture and our ethics around this very universal responsiveness. To build capitalism with a human face," Sergei Ivanov emphasized.

The speaker noted three challenges facing the corporate sector. 

"The first challenge is the overwhelming uncertainty in technology. What seemed like a fantasy in our world yesterday is already a so-so result today. The speed of change is such that if you don't do science just to keep up, you're guaranteed to be moved aside. The second challenge is the global crisis in education. There is a global fight going on both for scientists and for those who are able to organize. And the third challenge. According to WHO, the losses of the global economy from depressive disorders, according to the most conservative estimates, amount to 1 trillion dollars. And this is a drop in labor productivity, as well as a person's departure to the virtual world with cheap dopamine. There are simply not enough emotions for creative activity," the expert noted.

Sergey Ivanov thinks that companies that invest in the development of the environment, human capital and education, become leaders of the new economy, and influence sustainable development.

"One of the trends that is difficult to even comprehend today is the influence of artificial intelligence on the models of the relationship "scientist — innovator" and "business — ecosystem". Today, in order to be competitive, you no longer need crazy investments. For almost the first time in history, the poor but smart can compete on equal terms with the rich but stupid today. And the struggle is no longer for an idea, not even for a scientist, but for his loyalty, and it turns out that if previously the smart and poor needed ethics, today ethics is becoming a tool of protection, and even a condition for the survival of the already rich," the expert concluded.

The session "Shaping a new Platform for Global Growth" opened the agenda of the25th St. Petersburg International Economic Forum. The theses and conclusions announced by the speakers during the discussion will become the key leitmotif of the SPIEF 2025 program. The session was moderated by Maxim Oreshkin, Deputy Head of the Presidential Administration of the Russian Federation. According to him, this year the St. Petersburg International Economic Forum is taking place against the backdrop of tumultuous events in the world.

"We must not forget which long-term trends and challenges have led to the current situation, which trends are basic and decisive. It is important to have an open dialogue about how we can build the world of the future and create a new platform for global growth. It is through open dialogue that our future and our understanding of it are being built," Maxim Oreshkin said.

The first International Open Dialogue "The Future of the World. A New Platform for Global Growth" was held in April 2025 at the National Centre RUSSIA as a extension of Russia's initiative in the dialogue between the countries that will determine the agenda of the 21st century. Recognized international experts and other participants of the Open Dialogue noted the relevance and timeliness of this communication format and the need for the Open Dialogue on a regular basis.