German business is preparing a massive opening of new production facilities in Russia
The majority of German entrepreneurs working in Russia believe that the state of the economy will not worsen in the next two years. This was stated today at a press conference in Moscow by the Chairman of the Board of the Russian-German Chamber of Foreign Trade, Matthias Schepp, presenting a survey of 800 members of the chamber.
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“About 93% do not expect big breakthroughs or declines. More than half believe that it will be slightly better. If your 2008 crisis looked like the letter V, now it looks like the letter U. Stagnation will last 2-3 years,” Shepp said.
As for their own business, 60% of German businessmen surveyed expect their turnover in Russia to be higher.
“This shows that our chamber members can adapt quickly. 40% of them plan to create new jobs, 30% plan to start new production from scratch,” Shepp said.
He noted that there are more Russian managers in German companies operating in Russia. This is due to the fact that the current ruble exchange rate does not allow Western specialists to be paid the salaries they are applying for.
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