Privatization chief Anatoly Chubais said Wednesday foreign companies are showing increasing interest in privatization and estimated that Western investment in Russian equities could top $4 billion this year. "This year we had dozens of serious investment decisions by huge companies like Procter and Gamble, Pepsi Cola," Chubais said. "By the end of 1994 we could have from $2 billion to as much as $4 billion foreign investment in Russian equities." Foreign investment last year was $1.5 billion, he said. "These are very serious companies which have decided to make equity investments in Russia through the privatization process," Chubais said. He gave no breakdown on foreign portfolio investments but Western investment bankers say it is probably split 50-50 between backdoor equity investments in privatized firms and dollar-denominated Vneshekonombank bonds issued last year at a total nominal value of some $8 billion.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Not ready to support today?
Remind me later.
×
Remind me next month
Thank you! Your reminder is set.
We will send you one reminder email a month from now. For details on the personal data we collect and how it is used, please see our
Privacy Policy.
