6 Mar 2019 17:17

Volume of German investment in Russia up 26% in year, exceeds 2 bln euros - Russian-German Foreign Trade Chamber

MOSCOW. March 6 (Interfax) - The volume of direct investment by German companies in the Russian economy in 2018 was up by a fourth compared with the previous year and amounted to over 2 billion euros, Chairman of the Board of the Russian-German Chamber of Commerce Matthias Schepp said.

"Last year, German companies actively invested in the Russian economy: the volume of direct investment grew 26% compared to the previous year to 2.03 billion euros. This follows from Bundesbank statistics analyzed by the Russian-German Chamber of Commerce. This is one of the highest indicators in the whole time since the collapse of the Soviet Union," Schepp said.

German business sees Russia as a "vast market and an attractive country for investment," he said.

"The economic reform train has not derailed, even despite harsher domestic policy and continued confrontation with the West. In some sectors, the Russian government has been able to significantly improve the investment climate amid pressure in the form of relatively low energy prices and Western sanctions," Schepp said.

Based the results of a recent business climate survey conducted by the Chamber and the German Committee on Eastern European Economic Relations, 56% of German companies operating in Russia were able to boost their turnover, while every third company plans to continue investments in 2019.