The forum will be attended by many foreign participants from over 120 countries, according to a press release issued by Russia's foreign ministry.

Participants will discuss key trends and prospects of the Russian and global economy, according to Sputnik.

Egypt was guest of honour in the 2022 edition and Qatar in the 2021 edition of the SPIEF.

Last week, Russian President Vladimir Putin expressed in an address his gratitude to all scheduled participants, stressing they have done a lot to overcome the consequences of "illegitimate" sanctions against his country, according to Sputnik.

"The theme of this year's Forum, ‘Sovereign Development: the Foundation of a Just World. Let's Unite Our Efforts for the Sake of Future Generations,’ is extremely important and timely,” added Putin.

The Russian president also expressed confidence that the forum will contribute to solving global economic challenges and serve as an example of constructive and fruitful dialogue.

More than 14,000 participants hailing from 130 countries attended the last edition of SPIEF in 2022, according to Sputnik.

This edition saw participants sign 695 agreements with an estimated total value of 5.6 trillion rubles.