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19 Mar, 2008 04:41

Russian regions attract foreign investors

Russian regions are becoming increasingly attractive for foreign investors, according to the German business magazine Handelsblatt.

Moscow remains the top attraction, but Siberia and Russia's Far East have already seen major investment for Metro Cash and Carry which has three shops there.

Siemens is among those starting large-scale projects in Russia's regions.

The article does however suggest there are still major challenges posed by the climate, red tape and the need for personal local contacts.