Russian Market Appealing to Foreign Investors - Putin
Russian President Vladimir Putin has described the Russian market as appealing to foreign investment.

"The successful development of the Russian economy improves confidence in cooperation with Russia," Putin said at an Austrian-Russian business forum in Vienna on Wednesday.

"We have noticed foreign investment inflow. Cumulative Austrian investment in the Russian economy alone grew by 40% last year," Putin said.

"In the previous decade, Russia saw steady capital outflow of $15-20-25 billion per year," Putin said.

"In 2006, we saw absolute foreign capital inflow of $41 billion for the first time. In the first four months of this year, net capital inflow to Russia amounted to $31 billion," he said.

Putin said he hoped that "our Austrian partners will confirm that the Russian market is more dynamic and promising than many others."

Russia's economy has been growing on average 6.9% annually in the past six years, and this figure reached 7.7% in the first quarter of 2007, he said.

"The macroeconomic situation is improving" in Russia, Putin said.

"We have started to implement large-scale infrastructure and hi-tech industry development programs and are interested in as broad international cooperation as possible," Putin said.