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Foreign direct investment soars
RBC, 10.12.2007, Moscow 13:04:58.Foreign direct investment is expected to reach $45bn in 2007 compared to $26bn a year earlier, Russian Deputy PM and Finance Minister Alexei Kudrin told the Global Investment and Finance Forum, adding that, in 2006, foreign direct investment had doubled from $13bn to $26bn compared to the previous year's figures. Kudrin noted that investment growth was estimated at 7.4 percent for 2007, which would be an all-time high for modern Russia. Over the past eight years investment has grown 70 percent, an average 6.8 percent annually, which is an unprecedented figure since the end of the 1960s, Kudrin emphasized. Investment is also becoming more efficient, modernizing Russia's economy steadily and allowing the country to retain its investment appeal, Kudrin said. The Minister also pointed out that public investment accounted for 19 percent of overall investment, while focusing on infrastructure modernization.
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