Foreign Investment in St. Petersburg Reaches $4.8 bln

According to Standard & Poor’s , Moody's and Fitch's ratings , St. Petersburg ranks among Russia’s best industrially developed regions with a high diversification potential.

Hence, the investment in St. Petersburg during 2008 boasts to have increased 4.2% in comparison with 2007. Meantime the FDI share has grown from 11.8% to 18.4%. “The volume proves that foreign investors are interested in manufacturing products and rendering services in St. Petersburg. Their interest in tangible assets, in its turn, demonstrates that they have long-term plans to do business in the city,” says Sergey Fiveysky, First Deputy Chair of St. Petersburg Committee for Economic Development, Industrial Policy and Trade.