Foreign investment by Swiss companies doubled to 68 billion Swiss francs (about 56 billion U.S. dollars) in 2005, the Swiss National Bank said on Wednesday.

Swiss firms are well represented outside the country, said the bank, adding that for the first time ever, Swiss subsidiaries had employed more than 2 million people abroad.

"Robust global economic growth, the positive corporate earnings situation and a low interest rate level created favorable conditions for direct investment," noted the bank in its December monthly statistical bulletin.

But the figures were still below the peak recorded in 2000 of 75 billion Swiss francs (about 62 billion U.S. dollars), it noted.

The bulk of the capital went to the European Union - Switzerland 's largest trading partner - and the United States.

Asia attracted some 6 billion Swiss francs (about 4.9 billion U. S. dollars) in investment, of which 2 billion Swiss francs (about 1.6 billion U.S. dollars) went to Singapore.

Swiss companies also boosted their presence in China, South Korea and the Philippines.

The bank noted that 2005 was the first time that Swiss subsidiaries abroad employed more than 2 million people. In comparison, 3.6 million people were employed in Switzerland, it said.

More than half of the subsidiaries' staff were working in industry and just under 50 percent in services.