Despite the difficult situation
Habeck expects lavish investments
8/8/2023 2:27 am
The prospects for the German economy do not look too rosy at the moment, but Economics Minister Habeck remains confident. Germany is attractive as a business location – and will become even more so in the years to come. More than 20 companies in Germany are currently planning major investments.
In the discussion about the state of the German economy, Federal Minister of Economics Robert Habeck emphasized the strengths of Germany as a location and referred to planned company investments in the tens of billions. “Currently, about two dozen companies are planning major investments in Germany with a total investment volume of around 80 billion euros,” said the Green politician to the newspapers of the Funke media group. “They want to invest here and will create added value and jobs.” These projects are taking shape step by step and not all are publicly known yet.
According to the report, the Federal Ministry of Economics counts as major investments those with an investment volume of more than 100 million euros. These included the new plant that the chip manufacturer Infineon wants to build in Dresden, or the production of silicon carbide semiconductors that the US company Wolfspeed is planning in Saarland.
The economic situation is challenging, said the Green politician. He cited the shortage of skilled workers and the ongoing consequences of the energy crisis as justification. The Federal Republic must work on competitiveness and its economic strength. “But we should also dare to do something and see where things are headed.”
Germany is a location with well-trained people, a strong middle class, innovative companies and a number of companies that have ideas and would innovate. “From the pharmaceutical industry to battery cell production, from the semiconductor industry to hydrogen production, we have created a diverse biotope with a great willingness to invest, which will also bear significant fruit in the coming years and will help to renew prosperity,” said Habeck.
Green Group calls for investment program
Meanwhile, the Greens parliamentary group in the Bundestag wants to boost the economy with an investment agenda of 30 billion euros. “We need a smart investment agenda as an impetus for sustainable growth, prosperity and the competitiveness of Germany as a business location,” says a paper that is available to the editorial network Germany and that was written by parliamentary group leader Katharina Dröge and parliamentary group deputies Andreas Audretsch and Julia Verlinden.
Among other things, it is about investments in future technologies, in public infrastructure and in buildings. Financing should be secured in particular via the Economic Stabilization Fund (WSF). The Green politicians want to help the construction industry and invest in energy-efficient buildings. They also rely on an industrial electricity price to help companies to get cheaper energy and insist on the tariff loyalty law.