German Chancellor Friedrich Merz last Monday welcomed representatives of the “Made for Germany” initiative at the Chancellor's Office. Representatives of over 60 entities have undertaken to invest over EUR 630 billion in the next few years.
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As the Associated Press explains, in this way the German Chancellor wants to send a signal of trust from and to private investors. The group currently includes 61 companies from the entire economy, including the Siemens industrial conglomerate and the financial giant Deutsche Bank.
“Investments under this initiative are a very strong signal that we are currently experiencing mood changes and their consolidation” – said Chancellor Merz, whose words are quoted by Associated Press.
“Message […] It is very clear: Germany has returned. It is worth investing again in Germany. We are not a location of the past, but the present, and above all the future, “added Miej. The German Chancellor also emphasized that private investments are of key importance for stimulating economic growth.
The German economy will get a powerful drip from investors
The total amount declared on Monday covers at least some already planned investments. Merz said that the plans include investments in new objects and modernization of infrastructure, research and development.
The president of Deutsche Bank, Christian Sewing, praised the new government as “determined to end the backlog in reforms that slowed us too long.” He said, however, that he still had to do more and the companies “encourage” the government to “continue reforms”.
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“Our priorities are clear: we want economic growth, we want to strengthen Germany's competitiveness, we want to defend or further develop our conducting technological position and we want to introduce our infrastructure in the digital era,” said Roland Busch, Siemens CEO.
The German economy has been shrinking over the past two years and it is expected that this year will be in stagnation. Chancellor's administration Friedrich Merz has revitalized the economy with one of the main priorities since the office was taken on May 6.
