German investments in Russia grow

The volume of German investments in the non-financial sector of Russia's economy amounted to $2.7bn in the first quarter of 2003, which was 3.8 times higher than in the first three months of 2002. At the same time, Germany's share in the structure of foreign investments in Russia in the first quarter of 2003 was 43.4 percent, compared to 18.9 percent in the corresponding period of 2002, the Center for Macroeconomic Research of UniconRuf reported citing the Russian State Statistics Committee.

German investors preferred enterprises and organizations of foreign trade ($1.8bn or 66.7 percent of the German investments in the Russian non-financial sector) and telecom organizations ($400m, 14.9 percent).