Major Global Firms to Invest $733 Billion in Germany
- Business Companies Eurozone Investments
Global Business Magazine- 4 minutes read
As part of the “Made for Germany” initiative, 61 companies on Monday announced plans to invest a total of $733.92 billion which includes planned and new capital investments, research and development expenditures and commitments from international investors.
This is meant to send “a strong, positive signal” following outflows in recent years amounting to hundreds of billions of euros.in Germany to resuscitate investor confidence in Europe’s biggest economy.
In an interview with Bloomberg TV, to coincide with the launch of the project, the initiators of the alliance Deutsche Bank CEO Christian Sewing and Siemens CEO Roland Busch said that they were all striving for the same goal which is finally to have growth and competitiveness back in Germany and in Europe.
Boosting private-sector investment is critical to reigniting growth in Germany and ending three years of stagnation. The country’s key industries, including automotive, chemicals and machinery, have long been contending with high energy costs relative to foreign rivals, as well as bloated bureaucracy both domestically and at the European Union level.
“If growth is coming back to Germany, it’s also good for Europe,” Sewing said, adding that he expects more to come in the months ahead.
Siemens CEO Roland Busch emphasised that the programme includes not only large corporations and financial institutions but also small and medium companies, which he called “hidden champions” — and start-ups.
“They’re all geared for deploying capital into a country where we believe in its innovation strength,” Busch said alongside Sewing. “We believe that with the people we have, we can drive this to the next level.”
Allocation for New investments
In another interview with German newspaper Handelsblatt, the initiators of the alliance Deutsche Bank CEO Christian Sewing and Siemens CEO Roland Busch said that three-digit billion amount will be allocated to new investments.
They explained for an economic turnaround for Germany, there was a need for a clear signal that something was happening. Furthermore, courage for structural change is necessary in politics, they said adding that major steps must follow and this also requires companies that believe in Germany as a business location and are willing to invest.
The top managers of these 61 companies will meet with German Chancellor Friedrich Merz, Economy Minister Katherina Reiche, and Finance Minister Lars Klingbeil later on Monday. Merz said that he welcomed the companies’ confidence in investing in Germany as a business location and its jobs.
The 61 companies include various DAX-listed corporations, as well as international investors and tech companies. Here is the complete list of all participating companies and their respective managers.
These top companies include 50Hertz Transmission, Advent International, Airbus, Allianz, Amprion, Apollo Global Management, Axel Springer, BASF, Bayer, Beiersdorf, BlackRock, Blackstone, BMW, Boehringer Ingelheim, Bosch, Commerzbank, Covestro, CVC, Daimler Truck, Deutsche Bank, Deutsche Börse, Deutsche Lufthansa, Deutsche Telekom, EQT Partners, FGS Global, Isar Aerospace, KfW, KKR, Mercedes-Benz, NVIDIA, Siemens, Siemens Energy, Stellantis, Temasek, Volkswagen Group, Zalando and others.
