Spiegel: German investment in Russia reaches record levels
Russia is highly rated by German investors: in the first half of 2016, German companies invested almost as much in Russia as they did in the whole of 2015, reported Spiegel, citing data from the German–Russian Chamber of Commerce and the German Federal Bank.
In the first half of this year, direct investment from Germany reached EUR 1.73 billion, compared with EUR 1.78 billion for the entire of 2015.
“In just the second quarter of 2016, German companies invested EUR 655 million, three times more than during the same period last year”, the article states.
One of the ways of attracting foreign investment to Russia is the so-called special investment agreement. The German company Claas, one of the world’s leading manufacturers of agricultural machinery, signed a special investment contract with the Russian Ministry of Industry and Trade, whereby the company obtained the status of ‘Russian manufacturer’ and may claim government subsidies.
In turn, foreign companies commit to investing in manufacturing that does not currently exist in Russia. The minimum investment is EUR 10 million.
Source: ria.ru/economy (Russian only)
