Foreign direct investment (FDI) in Russia almost halved in the first nine months of the year, the statistics office said on Friday, as the economic crisis reduced the country's appeal for investors.
FDI from January-September amounted to 9.98 billion dollars, down 48.1 percent from the same period last year, the statistics office said in a statement.
Overall foreign investment was 54.73 billion dollars, down 27.8 percent from January-September 2008, the statement said.
Foreign direct investment is the investment of assets in tangible structures and organisations and involves investments seen as more long-term in nature.
The biggest foreign investor in Russia remained The Netherlands with 18.8 percent of foreign investment in the country, followed by Cyprus and Luxembourg.
Investors took billions of dollars out of Russia after the magnitude of the economic crisis in the country forced them to find safer havens for their funds.
However officials have said Russia is coming out of recession and forecast that Russia will return to growth next year.
Copyright 2009 AFP Global Edition
