RS Brief news Germans prefer Nizhny Novgorod

Germans prefer Nizhny Novgorod

August 2011

German investors take an interest in Russian regions. This has been confirmed by the management of the Russian-German Chamber of Commerce, who announced a new stage of the expansion planned for 2012. 70% of the members of the Chamber are willing to invest in Russia, though they intend to invest only in a select few regions.

German business people who have already invested in Russia are displeased with the policies of Russian regional governments, ‘They are more interested in attracting new investments, completely forgetting about companies that have already invested in their regions, even though some of those companies are willing to invest more,’ say members of the Chamber.

German entrepreneurs continue to regard Nizhny Novgorod as the region offering the most promising investment opportunities. ‘Manufacturing in the Moscow region costs very much today, for this reason Nizhny Novgorod is a very good location for doing business,’ says Alexander Markus, Deputy Executive Director of the Russian-German Chamber of Commerce. In the meantime Germany remains the main foreign trade partner of the region. At the moment there are over 80 companies with German capital operating in the Nizhny Novgorod region; in 2010 the trade turnover between Germany and Nizhny Novgorod totalled almost USD 730 million.