Foreign investment in Russia down 30% to $12 bln in 1Q09

2009/06/09

NOVO-OGARYOVO, June 8 (RIA Novosti) – Foreign investment in Russia totaled $12 billion in the first three months of 2009, down 30% against January-March 2008, the prime minister said on Monday.

“Although foreign investment fell in the first quarter amid the economic crisis, there was $12 billion in foreign investment in the first quarter,” Vladimir Putin said.

The largest investors in Russia during the reporting period were the Netherlands, Luxembourg, Germany, Cyprus, the United States, and France, according to the country’s statistics service.

He said foreign investors maintained their confidence in long-term prospects for the Russian market and that it would survive the current global financial crunch.

Putin said over 60 bids from foreign investors were currently awaiting approval from the country’s antimonopoly regulator.

In light of potential deals, the owners of strategic mining and transport and machine-building firms are seeking to increase their companies’ competitiveness and solve some of the problems caused by the financial crisis, Putin said.

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