- Category
- World
Russia’s Labor Shortage Hits Historic Levels, Even Chinese Investors Are Complaining
Prefer U24 Media on Google
- Authors
![Photo of Dariia Mykhailenko]( "Photo of Dariia Mykhailenko")
Chinese energy-sector investors in Russia are facing a shortage of skilled labor, according to Hua Xie, deputy secretary-general of the Union of Chinese Entrepreneurs in Russia, speaking at the St. Petersburg Economic Forum, according to The Moscow Times on June 5.
Hua Xie said that Chinese investors have been holding regular meetings with Russia’s Ministry of Economic Development for three consecutive years, with discussions focused on conditions needed to attract Chinese capital to the Russian market.
We bring you stories from the ground. Your support keeps our team in the field.
“Over the past three years, we have been holding regular meetings of Chinese investors and the Russian Ministry of Economic Development. The main question at these meetings is what needs to be done to encourage Chinese investors to enter the Russian market. There are many issues faced by foreign investors in Russia. First of all, these are tax policy issues and the attraction of foreign personnel,” he said, according to The Moscow Times.
Russia’s labor shortages have been gradually worsening since 2022, when parts of the workforce left the country or were mobilized to participate in the war against Ukraine.
According to The Moscow Times, the Union of Chinese Entrepreneurs in Russia brings together nearly 4,000 companies, including major state-owned corporations, private investors, and investment funds. It also includes four Chinese banks and serves as a platform for dialogue between businesses and Russian authorities.
“Large energy investors are worried about staffing shortages, and in some cases there is a lack of specialists. There are also questions about sanctions and asset freezes, taxes and fees, and banking regulation,” Hua Xie stated. “Overall, Chinese investors view the market with optimism. Many of us worked before sanctions, during sanctions, and will remain after sanctions.”
Alongside economic and investment issues, the forum also featured remarks on labor and employment trends in Russia.
Maria Lvova-Belova, the Russian presidential commissioner for children’s rights—who is currently subject to an International Criminal Court arrest warrant over her involvement in the unlawful deportation of children during Russia’s full-scale invasion of Ukraine—has said that 78% of Russians support early employment for minors.
Speaking at the St. Petersburg International Economic Forum, she stated that Russian teenagers “want to work and earn money” through socially useful activities, rather than performing what she described as low-value tasks such as “painting the grass.”
-0a5cbbb9c4bbf50b0374bd541b58ba00.jpg)
The commissioner added that developing systems for vocational guidance and early work experience for minors remains a priority. She argued that such measures promote “early maturity” and help young people begin earning income sooner, which she linked to future family formation and having children.
Earlier, it was reported that Russia is facing an unprecedented labor shortage, with the current workforce deficit reaching levels not seen in the country’s modern history.
Central Bank Governor Elvira Nabiullina has described the situation as a key challenge for the economy, stressing that Russia has never previously experienced such a severe lack of labor, which is now affecting the broader economic system.
Discuss this article:
-111f0e5095e02c02446ffed57bfb0ab1.jpeg "Photo of Roman Kohanets")
-d142ad4ea9d10782c492e7d1c93c9b11.jpg "Soldiers march to roll call at the Recknitz Valley barracks in Germany. (Source: Getty Images)")
-72b63a4e0c8c475ad81fe3eed3f63729.jpeg "Photo of Cyril Barabaltchouk")
-c439b7bd9030ecf9d5a4287dc361ba31.jpg "Photo of Katherina Popilnichenko")