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Russia in world's top 3 recipients of foreign investment for first time - UN

Published time: January 29, 2014 14:55
AFP Photo/Ernesto Benavides

AFP Photo/Ernesto Benavides

Foreign direct investment (FDI) in Russia reached a record $94 billion in 2013, a leap of 83 percent on the year before according to a United Nations report. Russia follows the US and China as the third most attractive country for investors.

The Global FDI research published by the UNCTAD – the UN agency responsible for international trade and development – has Russia jumping 6 places from its 9th spot in 2012.

The shift was primarily caused by the UK’s BP taking an 18.5 percent stake in Rosneft as part of Rosneft's $57 billion acquisition of TNK-BP.

FDI in the Russian Federation is expected to keep pace with its 2013 performance as the Russian Government's Direct Investment Fund [RDIF] – a $10 billion fund to promote FDI in the country – has been very actively deployed in collaboration with foreign partners, for example funding a deal with Abu Dhabi’s state-owned Mubadala Development Company to invest up to $5 billion in Russian infrastructure,” the report says.

The RDIF sealed 6 long-term investment contracts worth above $8 billion last year, which also included deals with the Japan Bank for International Cooperation, France’s Caisse Des Depots International, Italy’s Fondo Strategico Italiano and the Korea Investment Corporation, the fund said in the e-mailed press-release.

Recently Russia has been showing better results in business rankings. In 2013 the country jumped 20 points in a World Bank’s Doing Business rating, having shown the best dynamics among BRICS countries. Also at the beginning of 2014 Russia broke into Bloomberg’s 50 best countries for doing business.

Globally, in 2013 FDI reached pre-crisis levels, rising 11 percent to an estimated $1.46 trillion, UNCTAD said. Developed economies attracted a historic low share of foreign investment, while FDI to the developing world reached a new high of $759 billion, or 52 percent of the global inflow.source: UNCTAD. FDI inflows in billions of US dollars.

Comments (3)

 

Hansel 29.01.2014 22:27

[quote name='Oby Unthank' time=Go for it Russia!

British Virgin Islands, where the tax dodging super rich hide their ill gotten gains to avoid ANY form of social responsibility.

This territory has a total area of 59 sq miles, slightly larger than Manhattan Island, and a population less than 30 000.
NO industry or agriculture to speak of, just an immoral banking system that allows gangster billionaires and crooked corporations to avoid paying taxes in their home countries.

Obscene wealth: World’s 85 richest have same wealth as 3.5 billion poorest – Oxfam

Maybe Al qaeda can divert a bomb to those islands....

 

Commander 29.01.2014 20:29

The Federation of Russia has a very bright and prosperous future. Under the leadership of the Putin Administration, the economy is being strengthened, while the nation's defences are being fortified.

Meanwhile, thanks to the overextension of its military and the continuation of its global empire scheming, the United States sinks deeper and deeper into debt.

 

suricaten 29.01.2014 17:23

It is with great satisfaction,at least to all of us that wants all good things for Russia! And they have struggled more than enough in an uphill battle to get this far! But with serious working with any obstacle that they meet, it is finally paying off! I think you stillhaven't seen the top of this interest for investments yet, not by far! Good luck on the way to an unique prosperous future!

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