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Foreign investment in the Russian communications market grew 18-fold in the first quarter of 2005
Foreign investment in the Russian communications market grew 18-fold in the first quarter of 2005 against the same period in 2004, exceeding $739 million, the Information Technologies and Mass Communications Ministry said Monday. However, direct foreign investments fell threefold, totaling $4.5 million. Russian investments in this sector grew by 11.9% in the first quarter, and amounted to $529 million. New fixed assets were $355 million. The figure represents a 22% increase on January-March 2004. The ministry said that 388,076 phone numbers had been introduced in Russian towns and 53,369 in villages
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