Translation. Region: Russian Federal
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
BERLIN, July 22 (Xinhua) — More than 60 leading German companies, including Siemens and Deutsche Bank, pledged on Monday to invest 631 billion euros (735 billion U.S. dollars) in the country by 2028 as part of a joint effort to restore investor confidence, German newspaper Handelsblatt reported.
The initiative, called “Made for Germany,” will be formally presented to German Chancellor Friedrich Merz and Finance Minister Lars Klingbeil later on Monday. It includes capital expenditure, research and development costs, and commitments from international investors.
The announcement comes as Germany seeks to reverse sluggish economic growth and attract private capital, helped in part by recent changes in fiscal policy and the creation of a special fund for infrastructure investment.
High energy prices and structural problems are reducing the competitiveness of Germany's industry, prompting growing calls for deeper reforms.
“We need political courage for structural change, and decisive steps must follow,” Siemens CEO Roland Busch told the Handelsblatt newspaper. “But we also need companies that believe in Germany and are willing to invest. All this must come together quickly to gain momentum.”
Companies involved in the initiative plan to lobby the government for faster approval procedures for infrastructure projects and tougher measures to address labor shortages, he added. –0–
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