Russia, realising need for foreign capital, makes strides

The country's government has identified areas in need of capital inflows, and investors appear to be taking note.

It has taken a long time, but the Russian government has realised the importance of improving the country's investment image and investors appear to be responding positively, says Chris Weafer, chief strategist at Uralsib Financial Group in Moscow.

Following huge outflows of foreign capital in the fourth quarter of 2008 and early 2009, investors are slowly returning to Russia, with weekly fund flow indicators showing a growing preference for the country among emerging-market investors this year.

There has also been recent evidence of some switching from heavily subscribed Brazil funds into Russia funds, adds Weafer, addressing the Russia Capital Raising and Investment Summit in Hong Kong organised by AsianInvestor and Finance...

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