St. Petersburg is Russia’s second largest city. Founded by Peter the Great as Russia’s “gateway to Europe”, St. Petersburg is situated at the intersection of sea, river and overland routes and borders European Community countries.
St. Petersburg together with its administrative satellites occupies an area of 1,439 sq. km
.. The city lies on the eastern shore of the Gulf of Finland. The city’s center is placed at latitude 59°57' North and longitude 30°19' East. According to the 2004 census taken in by the St. Petersburg Center for Information and Analysis, the total population of St. Petersburg is 4.6241 million.
St. Petersburg was founded on May 16, 1703, by Tsar Peter the Great. The construction of the city started with the Peter and Paul Fortress on the Neva delta and continued with the Admiralty Shipyards just across the Bolshaya Neva. The Admiralty Shipyards were the cradle of the Russian navy. Not long after construction started the Tsar and the Court moved from Moscow to St. Petersburg. Later Peter the Great decreed St. Petersburg the capital of Russia.
The city was built as a bastion on the Baltic Sea. Its purpose was to strengthen Russia's military (primarily naval) and economic influence over the region. In addition to performing military and economic functions, the city was also to serve as the administrative center of the largest country of Eurasia. Construction of the capital and its ongoing development continued at a rapid pace with the involvement of the best European and Russian architects, artists and designers.
St. Petersburg is a world-famous tourist center. It is known as the cultural capital of Russia, and it is highly rated by UNESCO, which recognized St. Petersburg as one of the 10 most beautiful cities in the world.
Now St. Petersburg is the administrative center of the Northwest Federal District of Russia, which consists of the republics of Karelia and Komi, Arkhangelsk region, Vologodsk region, Kaliningrad region, Leningrad region, Murmansk region, Novgorod region, Pskov region and the Nenetsk autonomous region.
The Northwest Federal District has good potential for resorts in natural settings, developed industry and transportation network. It provides Russia with access to international markets through the ports of the Baltic Sea and the Arctic Ocean.
St. Petersburg is also Russia’s second region in terms of major social and economic indicators, especially in terms of investments in fixed assets.
Investing in St. Petersburg is particularly profitable since the city has already created infrastructure that is more developed than that of other regions in the Russian Federation.
Other benefits are the diversified economy and large domestic market guaranteeing the financial stability of the city and comparatively low investment risks.
St. Petersburg also offers a developed system for attracting investments. Major Russian and foreign consulting and auditing companies and investment agents have offices in the city.
Cost of investment units can be increase and decrease, results of investment in the past do not determine incomes in future, the State does not guarantee profitableness of investments in share investment funds. Before to buy investment unit, it is necessary to familiarize attentively with rules of trust management of unit investment fund.