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Russia welcomes Siemens investments in its economy

TUAPSE, Krasnodar Territory, October 11 (Itar-Tass) - Russia welcomes Germany’s Siemens investments and promises to back its projects, Russian President Vladimir Putin said on Friday at a meeting with Siemens CEO Joe Kaeser.

“As far as I understand, the company plans to invest considerable resources and money in its projects in Russia until 2015,” Putin said. “We are very glad and, naturally, will offer all necessary help.”

Siemens in now implementing a number of projects, including those on the organization of high-speed railway service between St. Petersburg and Moscow, and between Moscow and Nizhny Novgorod, and projects related to the Olympic Games. “I am sure we have a lot of important projects ahead that would be interesting for both the concern and for the Russian economy,” the Russian president noted.

Putin expressed the hope that Siemens would make its contribution to the development of Russian-German economic cooperation and “will help Germany regain its first place as Russia’s trade and economic partner, as it used to be several years ago.”

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