VIENNA, November 17 (RIA Novosti, Taras Lariokhin) - Austria's accrued investment in the Russian economy reached almost $1.6 billion by July 1, 2005 or 1.7% of total accrued foreign investment in Russia, a Russian trade official said Thursday.
Yuri Stetsenko, the head of the Russian trade mission in Austria, told a Vienna seminar on investment that Austria was the eleventh largest investor in Russia.
However, he said only 15-20% of Austrian investment went into production, largely to the paper, woodwork, and metals segments.
The rate of increase in Austrian investment in the Russian economy still fails to meet to the potential for bilateral cooperation, he said. Stetsenko encouraged Austrian business community to invest more actively in Russia.
