Germany is Going to Invest Billions of Euros in Russia
OREANDA-NEWS. Almost all German enterprises operating in Russia are satisfied with the current state of their own affairs: 95% of survey participants rated it as very good, good or satisfactory, and are preparing billions of dollars in investments in the country. This is reported in the annual survey of the Russian-German Chamber of Commerce on the business climate in Russia.
The poll results were the best over the past few years. According to the German Central Bank, in the first quarter of 2021, Germany's direct investment in Russia amounted to 1.1 billion euros. German business intends to increase investments in Russia and opposes sanctions. Over 93% of German companies were in favor of lifting anti-Russian restrictions.
Germany's major investments in Russian projects include Nord Stream 2, IT, telecommunications, mechanical engineering, pharmaceuticals, food processing, healthcare and agriculture. These projects will show the highest profitability, according to German companies.
Every second German company in Russia plans to increase its investments in Russia in the next 12 months. More than half of German companies want to increase the number of their employees in Russia, and only 3% are planning layoffs.
“Once again it became obvious that German business in Russia is the most crisis-resistant,” said Matthias Schepp, chairman of the board of VTP.
German businessmen explain their optimism by the rapid recovery of the Russian economy and delayed plans - they used to be afraid of sanctions and held back investments in the Russian Federation. "After the difficulties of recent years related to the coronavirus, sanctions and political conflicts, German companies in Russia are showing growth and, apparently, are making billions of dollars in investments that have been delayed earlier," said Matthias Schepp.