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. Last Updated: 07/27/2016

Investment Tracked in UN Report

GENEVA -- Foreign direct investment in the former communist world topped $46 billion at mid-1996, up 60 percent from a year earlier, with countries that are reforming faster getting the lion's share, according to a United Nations report.

Hungary ranked number one in foreign direct investment in transitional economies with a cumulative $13.9 billion, followed by Poland with $9.1 billion, the report by the UN Economic Commission for Europe, or ECE, said.

The ECE, a specialized UN agency for economic cooperation in Europe, said Hungary now accounted for 30 percent of total foreign direct investments in the ex-communist world, followed by Poland with a 17 percent share.

Russia came in third with a 13 percent share, just ahead of the Czech Republic's 12 percent.

Although tiny by Western standards, the per capita share of foreign direct investment in transitional economies more than doubled to $135 at the start of 1996 from $60 at the start of 1994, the ECE said.

At the bottom of the league, per capita foreign investment was just $17 in Ukraine and $20 in Moldova. In the former Soviet Union, Russia led foreign direct investments with $6.6 billion as of 1996, said the report.