Russia's Rising EY Investment Rating Proves Interest for Investors

Russia's rising EY investment attractiveness rating means that the country is accommodating to foreign investors who seek cooperation, Russian Export Center (REC) Director of External Communications Vera Podguzova told Sputnik on Thursday.

ST. PETERSBURG (Sputnik) — The EY European investment attractiveness survey was introduced on the sidelines of the St. Petersburg International Economic Forum (SPIEF) and revealed that Russia ranks seventh in the top-20 European countries in terms of foreign investors' interest. The country has thus moved up one position.

"It means that Russia is interesting [for investors], that it is pleasant to cooperate with," Podguzova said.

According to the EY survey, foreign investors participated in 205 projects in 2016, which is the highest number since surveys were launched in 2005. The most attractive area for foreign investors is manufacture, according to the survey.

"It is a good indicator, especially, related to manufacturing. The advantage of manufacturing is that it is not only developing in the country, but is also engaged in exporting… We support export-oriented projects," Podguzova added.

The 21st SPIEF kicked off on Thursday for its 3-day run, gathering high-ranking politicians and prominent business leaders from dozens of countries in Russia's city of St. Petersburg. Rossiya Segodnya International Information Agency is the official media partner of the forum.