Cyprus is the largest foreign investor in Russia followed by the Netherlands, Luxemburg and Britain, the Russian State Statistics Service said. Direct investment totaled $5.6 bln, while total foreign investment, including credits and flows into the securities markets fell 30 percent to $17.3 bln. Foreign investment in stocks and bonds fell 44 percent to $107 mln, it said.
According to the announcement, investments made through Cyprus amounted to $4 bln, from the Netherlands $3.4 bln and from the UK to $3.3 bln followed by Germany to the tune of $900 mln.
Foreign direct investment doubled last year to $27.8 bln as economic growth fueled a boom in consumption and attracted investors. GDP rose 8.1 percent last year, the highest since 2000.
Published by Financial Mirror – 23/05/2008
