Ikea freezes investment in Russia

The information agency Interfax has announced that Swedish home furnishing retailer Ikea has temporarily suspended investment in Russia. This decision has been taken in response to arbitrary administrative procedures in various Russian regions. This is what the general director of Ikea in Russia and the CIS, Per Kaufman, told Interfax.
For example the opening of the Mega Mall in Samara – that should have taken place in November 2007 – was stopped once again for alleged reasons according to Ikea.
The shelved projects are Saratow, Woronesch and Tjumen accounting for a total value of 160 million euros.