Dierig cited statistics from the German Bundesbank which show that there has been a turnaround, including a record rise, in German investment in Russia since the EU first imposed sanctions against Russia in 2014.
"While German investors turned away from Russia in 2014 and there was a net outflow of capital, the pendulum is now swinging the other way."
"In 2015 the direct investment of German companies rose to 1.78 billion euros ($1.96 billion), an amount that was only exceeded in the boom years from 2006 to 2008, and in 2010."
"A new record is set to be reached in 2016. According to the Bundesbank, total direct investment from Germany in the first quarter alone reached almost 1.1 billion euros ($1.2 billion)."
Germany's largest dairy company, DMK, is about to acquire a Russian competitor, and Bionoria, a manufacturer of natural medicine, is planning to invest around 30 million euros to produce its products in the city of Voronezh.
Among the advantages of investing in Russia for German companies are the low cost of the ruble, and benefits that the Russian government offers long-term foreign investors.
According to an industrial law passed in December 2014, if a company plans to invest at least 750 million rubles ($11.5 million) in Russia in a new enterprise, and commits itself to staying in the country for ten years, their investment gets a special contract with tax benefits.
