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Central & eastern EuropeSeptember 3 2006

Making the grade

Yury Molchanov, deputy governor of St Petersburg, explains what the city is doing to attract investors.
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Q What type of investment are you trying to attract in terms of sectors and priorities?

A We are targeting direct as opposed to portfolio investment. Given the restrictions on space, we are not seeking large energy projects. St Petersburg’s growth rate currently exceeds the Russian average and we expect this trend to continue and accelerate. So investors should be looking at sectors such as machine manufacturing, high-tech projects, shipbuilding, food processing and the automotive industry.

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