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  Thursday, September 19, 2019
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Russian IT and Communications Minister Leonid Reiman hopes to attract new investors to the country's telecommunications market
"I believe that we have something to tell, we have certain achievements, we are proud of the fact that almost all telecom companies are leaders of the Russian stock market and most of larger companies are listed on Western stock markets. We want to talk about it and invite investors to participate, because there is a big room for activities," the minister said in the run-up to the opening of the Russian Economic Forum in London. It is not the first time he is taking part in the Forum, Mr. Reiman pointed out. "Every time I managed to speak about what was really happening in Russia, and after each of these forums the interest in the industry increased, many investors came and influx of investment in private companies was boosted," he said. In 2004 the entire IT and communications market grew by 38%, while the telecom market was up by 37% and the IT market by about 20%, he recalled. The mobile communications sector posted the most dynamic growth - the number of subscribers doubled and amounted to 72 million people and by the end of 2005 may well reach 100 million, the minister believes. In 2004 over 2 million of fixed phones were installed in the country, Mr. Reiman said. The number of Internet users was up by 51% to 18 million people. In Moscow every second inhabitant uses the Internet. Russian investment in the industry in 2004 equaled $4 billion, foreign investment $1.5 billion, growing by "almost 100%," the minister concluded.
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