Zee Beam News

MOSCOW, June 11 (RIA Novosti) - German direct investment in Russia rose 9% year-on-year in 2007, to reach over $1 billion, Russia's statistics service said on Wednesday. Total German investment into Russia's economy totaled $5 billion during the year, remaining at the same level as 2006. Germany's direct investment in Russia in January-March this year totaled $408 million. Germany has provided large volumes of direct funding for Russia's wholesale and retail market, transport infrastructure, food and chemical industries, as well as electronics, construction and car production. Around 4,500 German companies are currently operating in Russia, most of them representing small and medium-sized businesses. Around 50% of Russian-German joint ventures are engaged in trade and consulting, and another 15% provide banking services.