Economy

Investment in Crimea in January amounts to almost $1 m, says local economy minister

About $1 million in investment came to the Autonomous Republic of Crimea in January 2013, the information policy department of the Crimean Council of Ministers reported on Monday, with reference to Crimean Economic Development and Trade Minister Svitlana Verba.

"Nearly $ 1 million [in investment came] in January – this is for the first time in many years. Usually the first quarter is very passive. This is due to the adoption of budgets and other objective reasons," the minister is quoted as saying during a meeting of the Crimean government on February 4.

According to Verba, the investment came "under already concluded, joint agreements."

She said these are investment projects for the development of gas condensate fields in Crimea, as well as construction projects in Simferopol with the participation of an investor from the United Kingdom, and the development of a hotel complex in Alupka (Yalta) with the participation of a Russian investor.

"We hope that the attraction of the additional financial resources will facilitate key points of growth in Crimea's economy – agriculture, the fuel and energy complex, and the health resort sector," she said.

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