German companies want to work in the Nizhny Novgorod region

A business delegation of German Pellets GmbH company paid a work visit to the  Nizhny Novgorod region. The company's management intends to organize production in the region.

During the meeting, Nizhny Novgorod Governor Valery Shantsev presented investment and economic potential of the region to German business representatives and invited German Pellets GmbH to work in the Nizhny Novgorod region.

As First Deputy Managing Director, Chief Financial Officer of the company, Hans-Dietrich Viola, noted in the course of the conversation, the company "has heard a lot about the friendly investment policies in the region."

"We were pleasantly surprised by the pace of preparations for cooperation. Never before has our company come across such quality and transient document preparation and negotiations as in the Nizhny Novgorod region. In addition, the proximity of raw materials and good logistics is important to us - these factors are also developed in the region," said Hans-Dietrich Alt.

Following the meeting, Governor Valery Shantsev and representatives of  German Pellets GmbH  signed a letter of intent.

The German company deals with the following products: wood pellets for personal consumption; pellets for industrial purposes; pellets for animal care.

Officials with the Ministry of Economy of the Nizhny Novgorod region say that the level of investment, as of November 1, 2013, exceeded target indicators of 2018 - the ones established in "May" Decrees of the President - in the amount of 27 percent. As of the end of 2013, the ratio of investment to gross regional product in the region reaches 39 percent.

According to the Statistics Agency of Nizhny Novgorod, the volume of investment attracted to the Nizhny Novgorod region annually, has quadrupled since 2005 (up to  258.2 billion as of 2012). Foreign investment increased ten times (up to 1 114.3 million U.S. dollars as of 2012).