Investments in Ukraine's Telecom Sector Up to $1.5 Bln in 2005

KIEV, Feb 2 (Prime-Tass) -- Investments in Ukraine's telecommunications sector rose to almost U.S. $1.5 billion in 2005 from about $0.75 billion in 2002, Georgy Butenko, director of state department for communications and IT, told a meeting Thursday. He provided no other comparisons.

Butenko said that foreign investments accounted for 60% of the total, adding that total investments are expected to increase by 100% in the next five years.

Investments in the telecommunications sector in Ukraine accounts for just over 1% of the country's gross domestic product (GDP), compared with about 6% in developed countries, Butenko said.

Butenko said that revenue of telecommunication companies rose to $5.50 billion in 2005 from about $2.25 billion in 2003.

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Posted to the site on 2nd February 2006