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    Foreign investment in Russia's communications market topped $739 million in Q1 2005

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    MOSCOW, June 4 (RIA Novosti) - 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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