MOSCOW, Dec 21 – PRIME. The volume of investments of German companies in Russia in the third quarter compensated for the decline in the second quarter and amounted to 700 million euros, in nine months it reached 1.3 billion euros, according to the message of the Russian-German Chamber of Commerce (VTP). “Despite the crisis caused by the coronavirus, the volume of net investment of German business in the Russian economy in the third quarter of this year amounted to almost 700 million euros,” the Bundesbank said, noting that in the third quarter, net direct investment in the Russian economy from Germany showed unexpectedly high growth rates when comparing the volumes of capital inflows and outflows. Investments in global real estate in 2020 decreased by almost 40% “Already in the period from January to the end of September 2020, the volume of investments of German companies in Russia, despite the crisis, reached an impressive level of 1 , 3 billion euros, offsetting the decline observed in connection with the pandemic in the second quarter “, – said the president of the chamber, Rainer Seele, adding that companies see great market prospects in Russia and high consumer potential. Despite the pandemic, German companies are currently implementing there are several large projects in Russia at once. Thus, the manufacturer of agricultural machinery Claas is expanding the production of ultra-modern combines in Krasnodar, and the logistics company Rhenus is building a logistics center in the region. The German family-owned company Knauf launched a new production line near St. Petersburg worth 50 million euros, and the retailer Globus, as part of expanding its presence in Russia, opened a new logistics hub in the Moscow region in September, investing 50 million euros in the project. you were refused “The growing number of members of the Russian-German Chamber of Commerce is also evidence of the continuing interest on the part of German business,” Seele said. This year, despite the crisis, the Russian-German VTP managed to strengthen its position as the largest foreign business association in Russia. The number of member companies increased by more than 10% – from 900 to 1000. The Russian-German Chamber of Commerce represents the interests of German companies in Russia and Russian companies in Germany. Currently, the VTU has 1000 member companies, it is the largest foreign business association in the country. Now in Russia there are 4,274 companies with German capital. German direct investment in Russia in 2019 amounted to almost 2.6 billion euros.