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Rogers Thinking of Russian Investment

Billionaire investor Jim Rogers said he is "ready to invest in Russia" during a roundtable at the APEC summit in Vladivostok on Friday.

Rogers said that for more than 40 years he has had a negative attitude toward the country, but a lot has been done in Russia in recent years. The investor and co-founder of Quantum Fund with George Soros said he has not decided exactly what sector to address. "I don't know yet. I thought about it for the first time over the last weeks. I need to think some more," Rogers said.

He said he usually invests in equity markets and financial instruments, but it's possible his investment could be in a specific company, or, for example, in agriculture.

During the Invest in Russia conference on investment attractiveness, Rogers asked Sergei Katirin, the head of the Russian Chamber of Commerce, "What steps will be taken by Russia so that people like me can feel secure about their investments?"

Katirin answered that the state had created many institutions over the last three to five years relating to development, and that 23 roadmaps had been developed to improve the investment climate.

"Russia needs to tell positive stories about successful investments," said Karl Johansson, managing partner of Ernst & Young CIS, which recently opened an office in Vladivostok. "There are such examples," Johansson added. "Things are getting better. Not consistently, but getting better. The possibilities to grow investments are increasing."

When asked if he had been convinced to invest in Russia, Rogers said he would think about it.

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