German Businesses Increase Investment in Russia

In the first quarter of this year, German companies in Russia invested 1.1 billion euros. At the end of last year, this number was negative, dropping to 370 million euros, Russian media reported.

In the first quarter of 2021, German companies invested 1.1 billion euros in the Russian economy, which is almost a quarter less than investments in the same period in 2020.

By the end of 2020, the investment indicator of German business in Russia turned out to be negative: 370 million investments were withdrawn from the country. In 2018 direct investments of German companies in Russia amounted to 3.4 billion euros. In 2019, this figure dropped to 2 billion euros.

The Chairman of the Board of the German-Russian Chamber of Commerce Matthias Schepp said that at present there is a positive trend of German investments in Russia, which was present before the start of the coronavirus pandemic.

In addition, Shepp recalled the existing investment boom of past years, marked by large-scale projects such as Nord Stream 2, the supply of gas cleaning plants from Linde, modern Siemens trains, as well as the large investments of the carmaker Volkswagen in Russian factories.