Companies pledge to invest over $700 billion in Germany over the next 3 years
On Monday, Merz welcomed representatives of an initiative titled 'Made for Germany' to the chancellery to send a signal of confidence from and to private investors. The group currently includes 61 companies from across the economy, among them industrial conglomerate Siemens and financial giant Deutsche Bank. The investments by the initiative are a very powerful signal that we are now experiencing a shift in sentiment and consolidating it,' Merz said. 'The message … is very clear: Germany is back. It's worth investing in Germany again. We are not a location of the past, but a location of the present and above all the future.' He stressed that private investment is crucial to encouraging growth.
The overall figure pledged Monday includes at least some already planned investments. Merz said the plans include investments in new facilities and in modernizing infrastructure in research and development. Deutsche Bank CEO Christian Sewing praised the new government as being determined to end the reform backlog 'that has slowed us down for too long.' But he said that it still needs to do more, and the companies encouraged the government to continue the course of reform. 'Our priorities are clear: We want economic growth; we want to strengthen Germany's competitiveness; we want to defend or further expand our technological leadership; and we want to bring our infrastructure into the digital age,' Siemens CEO Roland Busch said.
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