Polish investments in Russia and Ukraine to top US$1B

Half of this amount will be spent by Polish Oil and Gas (PGNiG), which will participate in the construction of a gas pipeline between Norway, Denmark and Sweden. An increasing number of medium and small companies are now looking for investment opportunities abroad, such as in Ukraine, where an average salary is five times lower than in Poland at US$0.65 per hour. Conditions for conducting business are good enough to encourage some companies to completely transfer their operations to Ukraine. Polish investments are growing in Russia as well, amounting to a possible EUR 150 million in 2007. (Rzeczpospolita, pp. A1, B1) M.M.