German companies pledge 631 bln euros in investment to boost economic confidence

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  • German companies pledge 631 bln euros in investment to boost economic confidence

MORE than 60 of leading German companies, including Siemens and Deutsche Bank, pledged on Monday to invest 631 billion euros (US$735 billion) in the country by 2028 in a joint effort to restore investor confidence, according to the German newspaper Handelsblatt.
The initiative, titled “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 spending, and commitments from international investors.
The announcement comes as Ger many seeks to reverse sluggish growth and attract private capital, helped in part by a recent overhaul of fiscal rules and the creation of a special fund for infrastructure investment. Germany’s industrial competitiveness has been strained by high energy prices and structural challenges, prompting growing calls for deeper reforms.
“We need political courage for structural change, and bold steps must follow,” Siemens CEO Roland Busch told Handelsblatt. “But we also need companies that believe in Germany as a location and are ready to invest. Both must come together quickly to build momentum.” — Xinhua

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German companies pledge 631 bln euros in investment to boost economic confidence
German companies pledge 631 bln euros in investment to boost economic confidence
MORE than 60 of leading German companies, including Siemens and Deutsche Bank, pledged on Monday to invest 631 billion euros (US$735 billion) in the country by 2028 in a joint effort to restore investor confidence, according to the German newspaper Handelsblatt.The initiative, titled “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 spending, and commitments from international investors.The announcement comes as Ger many seeks to reverse sluggish growth and attract private capital, helped in part by a recent overhaul of fiscal rules and the creation of a special fund for infrastructure investment. Germany’s industrial competitiveness has been strained by high energy prices and structural challenges, prompting growing calls for deeper reforms.“We need political courage for structural change, and bold steps must follow,” Siemens CEO Roland Busch told Handelsblatt. “But we also need companies that believe in Germany as a location and are ready to invest. Both must come together quickly to build momentum.” — XinhuaGNLM
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