02 December 1996 00:00 [Source: ICB]
German chemical companies increased direct investment in eastern Europe by 60% between 1994 and 1995, according to a report by the German chemical industry association, VCI.
Hungary led the investment list with DM1.8bn ($1.2bn), followed by the Czech Republic (DM1.2bn) and Poland (DM800m). Some DM230m was spent in the countries of the former Soviet Union, including DM140m in Russia.
VCI said the number of representative offices nearly doubled from 108 to 198. The number of offices established in the former Soviet Union and the Baltic states was especially high.
The number of subsidiaries established by German companies in eastern Europe rose by 40% to 119, led by companies in Poland, the Czech Republic and Hungary. However, the number of joint ventures declined by 15% to 35.
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