Germany lures foreign firms as economy falters

Germany lures foreign firms as economy falters | DW Business

Рет қаралды 30,386

Күн бұрын

Has Germany discovered the magic formula for attracting foreign companies?
A new report out by Germany Trade & Invest, the government's agency for international business promotion, points to the country's success in attracting some prestigious projects from companies including TSMC, Wolfspeed, Apple, and Eli Lilly last year.
But while the money invested appears to have risen to a record high, the number of new investment projects is down slightly and a recent survey by consulting group KPMG found perceptions of the country had deteriorated among business leaders, with poor digital infrastructure and an ageing workforce among their biggest concerns.
DW Business speaks with Achim Hartig, Managing Director of Germany Trade & Invest about the opportunities and challenges for foreign businesses in the country.
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#germany #germaneconomy

Пікірлер: 149

@matthewbaynham6286 14 күн бұрын

I do not recommend setting up a startup business in Germany. I've setup a startup in Swizerland as well as a startup in Germany. In Switzerland everything worked fine, in Germany it's a nightmare. For example: In Germany the different Finanzamt (tax office) have websites with email addresses, however you shouldn't email them because email is not a recognised form of comunication, which means the people working in the finanzamt will simply ignore your email. If they replied to say they didn't understand that would be different, I would be able to send another email and actually communicate. However they don't, the finanzamt just ignores any emails and you are left waiting. My German is awful, so I don't want to phone and talking face to face is just as bad, but emails could be translated if the finanzamt could reply, but they don't. Fax, telephone, letters, and face to face are all recognised forms of communication and they will only respond to these. Of couse they don't tell you this, they have their email addresses on their websites and simply ignore you.

@AimeranCS 14 күн бұрын

Would be hilarious if it isnt so sad. I work in a german insurance company and we still have to send every notification via physical mail. E-Mail is not recognised to be secure so it isnt accepted for personal data, unless the E-Mail exchange is extra secured (like PGP) or it contains a link to a secure platform with extra verification. Everyone is complaining about the costs (printing, postage) and environmental factors (use of paper, delivery) and keep in mind its 2024 not the dark ages. It is what it is. I hope your business is doing well.

@brand8590 14 күн бұрын

My company once looked at Germany, settled on Britain despite dropping out of the EU as access was similar with far less bureaucratic headaches and costs.

@PinkyLadybird 14 күн бұрын

@@AimeranCSthis is so bloody ridiculous. Germany is shooting itself in the foot by stalling digitisation any further. The world is running away.

@krollpeter 14 күн бұрын

Truth is many German companies and government offices are not using email, because it is considered widely unsafe. You might have a different view to this, but that is the fact.

@SonnyDarvishzadeh 13 күн бұрын

Same experience here with Finanzamt of Germany. The worst entity I have ever dealt with. They send tons of paper mails, but it's like listening to radio and talking to a wall.

@santostv. 14 күн бұрын

Let’s go!! Germany 🇩🇪

@manjunathnr4624 13 күн бұрын

Deutschland, fuhrer's Deutschland

@jojje3000-1 12 күн бұрын

US is investing their newly printed dollars, buying European companies.

@alexpavlov3535 6 күн бұрын

Dollars smelling with blood of killed children in Syria, Irac, Afghanistan and many other places around the globe.

@arstan9962 7 күн бұрын

Can someone explain what this man is saying in a nutshell? His statements seem too good to be true :)

@1112viggo 14 күн бұрын

Why is it so god damn hard for everyone on the news to just talk normally and give straight answers? Can anyone fluent in bs please translate?

@samlatooni 14 күн бұрын

For that you will have to learn GERMAN! 😡....😅😅😅😅😅😅

@Oxyleya 13 күн бұрын

"I come from a world where everything is okay as long as everybody believes it is, so just trust me bro"

@cwpv2477 13 күн бұрын

"we are too slow and corrupt."

@samlatooni 14 күн бұрын

"but they must speak german!!!!!!!"

@user-ln3lh2pz8h 12 күн бұрын

But American English is the lingua franca these days!

@frozenshadow0991 12 күн бұрын

This man shall definitely not use the blurred background function.

@takanewalls3268 14 күн бұрын

German people don't like Tesla's investment, I heard???

@AimeranCS 14 күн бұрын

Media is blasting the environmental impact hornet. Regular people are jumping on the bandwagon. Bad communitcation from Tesla, rushed build with little public oversight and a media landscape that loves to talk everything down created this antipathy. At least thats my view without digging to deep.

@Dexs59 14 күн бұрын

@@AimeranCS100%!

@mysimba809 14 күн бұрын

@@AimeranCS true

@krollpeter 14 күн бұрын

@@AimeranCS I concur. Also, Germans tend to meckern about each and everything.

@Melior_Traiano 13 күн бұрын

German people? They build the factory next to the most leftist city in the country. Consequently, the leftist activists are overrunning them. Its not representative for the German people, thank you very much.

@ivani3237 13 күн бұрын

only if it's new Kebab street food

@mihailescue 12 күн бұрын

Until they will apply the "Dönerpreisbremse" (maximal allowed price for Kebap) 😂😂😂

@Oxyleya 13 күн бұрын

"I come from a world where everything is okay as long as everybody believes it is, so just trust me bro"

@mihailescue 12 күн бұрын

First of all, trust isn't assumed here; it must always be substantiated with paperwork as the state doesn't inherently trust individuals. Bureaucracy was invented in Germany and has been elevated to an art form here. Here are a few personal examples: Converting a European driving license to a German one can take up to 6 months. While you can drive a bus with a European license, you can't drive for a limousine service without an additional permit called "Personenbeförderungsschein. Want to go fishing? Not possible without completing a course and passing an exam. Looking to start a business or become self-employed? Hold on tight; it's a complex process. The paperwork required could fill up the Great Library of Alexandria, and the exam focuses on unrelated topics like accounting rather than the specific field you're entering. It's unfortunate that a country as wealthy and with such advanced infrastructure as Germany is held back by excessive bureaucracy. There's a pressing need for evolution and a loosening of these extreme bureaucratic constraints.

@krollpeter 14 күн бұрын

Obviously the industry and investors trust Germany a lot more than its own people.

@annatimoshenko1041 12 күн бұрын

The guy seems to be promoting services his Company can deliver. This is not an interview, this is an advertisement.

@Ray-ki3nb 8 күн бұрын

Germany is an amazing place for investing just you need to sit down with a Finanz consultant and understand the various buisness structures .

@jdjdiiididjsjskks3723 13 күн бұрын

Scholz 🤡💩

@lipids7185 8 күн бұрын

how is possible the economy is falting and the DAX 40 is doing all time high

@brunoheggli2888 14 күн бұрын

Germany is the best place to invest!The future looks extremly bright!

@blackphoenix114 13 күн бұрын

true hahaha so bright that those investors are now blinded lmao

@HL-uw7fk 8 күн бұрын

It is fun to see eastern european countries more advanced in IT ecosystem than Germany. Example is Croatia, Romania, Slovenia, etc. Where you can do all communications with government offices on both native and english using mobile apps. Not to mention banking apps and online banking being so far developed that it is just funny to believe that Germany with such economic power having wrong people on wrong positions doing decisions and keeping country back. Especially when you consider foreigners speaking 3-4 languages while sadly here people either don’t know english or are reluctant to speak it, but dear friends, country will not survive without english and foreigners…

@apoorvpurohit9182 5 күн бұрын

Germany is awfully and surprisingly bureaucratic and the worse part is , the same bureaucracy is working in a world more than 50 years ago, so god help you if you have to deal with the govt employees there

@rrajan5476 12 күн бұрын

Clear trip is a fraudster, especially for International flights. You click pay button, no signature needed for death warrant of your money.

@tonykerr3208 14 күн бұрын

The guy struggles to give one straight answer.

@PeterLamin-pi6rv 14 күн бұрын

Without cheap Russian resources Germany and EU cannot match China.🎯🙃🙃🤔

@santostv. 14 күн бұрын

Most commentators are yappers unfortunately, i guess it called bs jobs😂

@krollpeter 13 күн бұрын

1. English is not his mother-tongue. 2. Only simple people demand simple answers

@Oxyleya 13 күн бұрын

@@krollpeterIt's not about the length of the answer, it's about whether there is any substance to it. This is nothing but overly positive marketing/hot air, and anybody who can't see that should not be calling others simple.

@krollpeter 13 күн бұрын

@@Oxyleya I definitely can't see that.

@joshuafess4295 12 күн бұрын

And 34 billion ain’t much either and how much is those jobs are luring and retaining jobs in Germany that will translate into enough tax revenue to sustain federal benefits for the mass retirement and lower population and also getting a straight forward answer from him was nearly impossible that was easily understood

@gluteusmaximus1657 14 күн бұрын

"Is Germany a good or a bad place to invest? " Is it good to invest in a country that is rich? Has a industry that is known and the products are in demand. What a question.

@1112viggo 14 күн бұрын

Sure, if you ignore the taxes and bureaucracy its an investors paradise...

@gluteusmaximus1657 14 күн бұрын

@@1112viggo A clever investor knows how to calculate risks and chances. Please inform yourself and find out why well known companies chose Germany instead of UK for example.

@1112viggo 14 күн бұрын

@@gluteusmaximus1657 I guess that's you? A clever investor? Well, I'm more interested in knowing why well known German companies choose to invest in China and elsewhere, rather than in Germany? perhaps you can help me understand that.

@gluteusmaximus1657 14 күн бұрын

@@1112viggo Because it is clever not to put all eggs in one basket?

@1112viggo 14 күн бұрын

@@gluteusmaximus1657 Yeah sure, but you still want to put most of your eggs in the best basket, right? Well the U.S. The U.K. China. The Netherlands. Ireland. Brazil and Singapore all draw in way more investment than Germany because they all generally provide more money for the people doing the investing. As you said, they are clever. They must be, they are making serious money after all.

@nonnoyobisnis8705 13 күн бұрын

DW trying hard to dissuade potential investors, as usual. 😅 Konstruktive Kritik ist absolut OK, aber die tendenziösen Überschriften der DW Beiträge ("Why german carmakers are losing the battle against chinese manufacturers" ... haben Sie sich mal die Umsatzentwicklung von VW angeschaut? 😅 +20% in 2023) finde ich nicht in Ordnung.

@rrajan5476 12 күн бұрын

These goons used to ridicule Indian redtape. Now my nephew says Government is mired in red tape. Smug guys.

@mihailescue 14 күн бұрын

At the moment, it's not recommended to invest in Germany. Taxes are high, energy costs are very expensive, obtaining permits is challenging, and the bureaucracy is unimaginable. Additionally you need to be able to speak German and understand the so-called 'Behördensprache' (official administrative language). In my case, the administrative institution took six months to give me approval initially, and now after 2 years, I've applied for an extension in December 2023. The official response from March 2024 is that I need to wait for approval until as late as June 2024.

@sebyst7907 13 күн бұрын

If that were the case, there wouldn't be record investments, energy has dropped by a lot since 2022, it's fine

@yunusgokcen174 12 күн бұрын

@@sebyst7907government can't keep subsidizing energy costs

@nonnoyobisnis8705 13 күн бұрын

But Zeihan said ... 🤣🤣🤣

@DavidLange1492 10 күн бұрын

I've personally seen Deutsche companies and individual businessmen leaving due to the onerous regulation, unions and limited work force. Germany needs to wake up and stop sleepwalking.

@imprivsoaugustinei1910 11 күн бұрын

It is sixteen runic stone days this is late ⏰

@blackphoenix114 13 күн бұрын

They didn't get those numbers by themselves but to the federal states lmao hahaha.

@thembam0ses273 14 күн бұрын

Puff-piece 👆

@Kaoniao 14 күн бұрын

Renewable energy means the same energy can be used again and again. But why do they to have to build more and more facilities to harvest these so called environmentally friendly energies? Would it not be easier to reward those who need lees energy and tax those who need more? Then many people could make a easy sustainable living even without working, and those who have the urge to hop around the world like a frog or grasshopper can contribute to the environmental damages they are producing through their unsustainable life style.

@kaposipal 13 күн бұрын

bach vagy mozart lesz a szerencsi zeneakadémián...????

@richardshaw6819 14 күн бұрын

Please try to be objective in your reporting, its about energy inputs ratio as to productivity outputs. Germany has to become THEE world leader overnight in specialization. It is unrealistic in the present environment. Germany is facing a stressed situation. They will have to outsource all production.

@nettcologne9186 14 күн бұрын

@krollpeter 13 күн бұрын

Nonsense. In Germany there are so many more small and medium-sized businesses, many more than in other, comparable countries in the world. This is where skill and knowledge are at home. It will stay that way.

@mrandersson2009 14 күн бұрын

Germany needs to adopt English as an official language.

@thegreatdane3627 14 күн бұрын

why would they do that?

@trappytrap405 14 күн бұрын

English is a Germanic language, and everyone learns it from the first grade onwards.

@tobiasharstel7941 14 күн бұрын

Why would we adopt English, that is German that got messed up by viking (norman) French???

@user2kffs 14 күн бұрын

German people dont like investment because it means capitalism

@cwpv2477 13 күн бұрын

sellin pots to not starve is capitalism too

@HartlepoolLad 14 күн бұрын

Oooh, just in time for the election 😳🙈

@okkkSS-rg3tq 14 күн бұрын

Modern turns chartless city End chart kids in school alone.

@brand8590 14 күн бұрын

Right now, the US is Germany's largest market. They overtook China a while ago. Last I checked Germany sells the US 60+billion while importing only 12B of American goods. This trade imbalance will have to be addressed but for the moment the US is helping Germany weather the loss of cheap Russian energy etc. With the massive industrial re-shoring to America from Asia going on, the US is going to need their money to finance the massive re-investment this demands.

@krollpeter 13 күн бұрын

It is true getting things done can get a bit tedious and complicated. On the other hand, things are secure and stabile on long term. That’s a value which can't measure in terms of money, but invaluable for many businesses. It is the same reason why many companies come to Singapore. Many other places in the world might seem easier, faster etc. etc., but long term ... ?

@brand8590 13 күн бұрын

@@krollpeter Germany has a far larger problem than that. Demographically it's a huge disaster for Germany. They probably can't remain a major manufacturer and can look forward to a reduction in GDP and livelihoods. It's not so much Germany that concerns me. Germany is the center and major contributor carrying the EU. But if the EU goes as Germany supports it. The EU may well be threatened.

@krollpeter 13 күн бұрын

@@brand8590 The demographic problem exists in most developed countries of the world, for some even worse than for Germany. There are other countries such as African countries which have huge growth potential. Certainly, Europe can not compete with their growth. It is natural that you can grow more from a lower basis, as compared from a position that is already tall. Even more important is to accept challenges, strengthen the EU, strengthen all our economies and work together keeping our core industries abreast. What we +must+ avoid is being ground down in between the grinding blocks of two giant superpowers.

@krollpeter 13 күн бұрын

@@brand8590 your last reply has been removed, I could only read it partially. That what you mentioned is exactly the reason why I say the EU has to be strengthened. The US shifted attention more to Asia, which is the reason why Xi encouraged Pootina to start the redundant war, so the US would be distracted from Asia. (Same reason btw. why suddenly Hamas was supported to go into Israel and kill 1200 people). It seems at this moment as if Pootina is progressing, but that is not so. 30% of his economy is now war economy. He is pumping his own country empty like a vacuum.

@jagchahal1393 14 күн бұрын

Another german joke..

@imprivsoaugustinei1910 11 күн бұрын

Ambassador Germany 🇩🇪 there is no recourse elmental legality , as well as there is the matter of one ßillion German state deuschte marks , deposited in that bank 🏦 golden bc Canada 🇨🇦 in the denomination, as collector item , runic so safety deposit 💵 box 📦, improviser Augustine I , not that bank 🏦 there are two. Jtb d may 16 the 2024 adesc sun ☀️ emprx

@KumarKumar-fc2gc 14 күн бұрын

Well, why a fool would come and invest in Germany when your FUEL line was blown up by your MASTER, and you could not do much except CLAPPING

@krollpeter 13 күн бұрын

It is Putins property, not Germany's.

@jtang8768 12 күн бұрын

Look at the crazy riot at Tesla factory in Berlin, that's what you get when you invest in Germany.

@cy6386 14 күн бұрын

Political stability? U must be kidding me

@jimmylam9846 14 күн бұрын

@PeterLamin-pi6rv 14 күн бұрын

Banning the AfD sounds like zel's Ukraine 😂😂😂

@CrispyRichter 14 күн бұрын

I mean compared to France and East Europe it is stable. For German circumstances it is a messy time, but globally still very predictable.

@gluteusmaximus1657 14 күн бұрын

Oh yes. Germany has political stability! A change of the governing party would not result in chaos. Compared with Russia, Germany is as safe as milk.

@Vatnik_tschistilka 14 күн бұрын

@@PeterLamin-pi6rvThat would in fact further stabilize the situation as it would secure the middle ground politicies of green-SPD-CDU-FDP for maybe at least another 30 years.

@Erik-rp1hi 14 күн бұрын

Germany needs to spend 4-5% on defense if it wants to be secure.

@yunusgokcen174 12 күн бұрын

Ridiculous premise. Why not use some diplomacy to solve conflict?

@OmarOsman98 7 күн бұрын

@@yunusgokcen174Ridiculous. You need to have a strong military in the face of multipolarity.

@yunusgokcen174 7 күн бұрын

@@OmarOsman98 Yeah? Should we go full war economy mode and ruin our quality of life? Or should we excercise restraint? Russia has no interest in Europe, but we have a great interest in Russia. I do not want to fight Russia for some politician. I want them to use diplomacy to prevent conflict. Russia has offered many such chances to do so, ever since 2014 and earlier. All those years we never took it. Shows the failure of our so-called diplomats.

@OmarOsman98 7 күн бұрын

@@yunusgokcen174 Not full war economy bro … but you’re going to need it. If Russia expands into Scandinavia in the future “your” country will be dependent on Russia

@yunusgokcen174 7 күн бұрын

@@OmarOsman98 Isn't Scandinavia Europe? Russia has no interest dude. Are you foolish? It will be a war economy, we will be ruled by the MIC. How can you be this blind? If we had real diplomats there wouldn't be war in Ukraine. And Ukraine wouldn't be losing. They lost. And we will lose. Time for diplomacy!

@johnbutler3742 14 күн бұрын

it's the country that has had three depression, 1918, 1925 (all German), and 1929 (American); it's the country that has had the worst devaluation iin history-wheelbarrows of money needed for a loaf of bread, and it has had the worst government-regime in European history-which still itself presided over a gigantic but illusory economic revival. See James Hawes, 'The Shortest History of Germany'.

@Melior_Traiano 13 күн бұрын

Correct. However, what you haven't mentioned is that Germany has bounced back each time. That alone demonstrates the resilience of the German economy and people.

@SonnyDarvishzadeh 13 күн бұрын

Let's put up a video how frustrated Musk was with German bureaucracy. Let's ask foreigner firms how much more time and money they have to spend to go through anything in Germany. Show real world examples and real people's experiences. Oh, no! You can't talk against Germany because they will sue you or get your reviews down.

@harisoepangkat6085 14 күн бұрын

Tesla's Elon Musk will tell you that he was sorry to have chosen Germany. He should chose Hungary. Germany has the highest energy price and therefore causing the deindustrialization of Germany. Everyone who can leave, already left.

@nettcologne9186 14 күн бұрын

@catlover7971 14 күн бұрын

The highest energy costs in Europe are in France.

@thegreatdane3627 14 күн бұрын

modern manufacturing requires skilled workers. And Germany has good trade schools.

@harisoepangkat6085 14 күн бұрын

@@thegreatdane3627 Sorry. Oh my God, you still live in the days of Yohannes Gutenberg. We are not talking about a factory making Leica cameras or Grundig vacuum tube televisions. In an EV factory, it's the automated robots that do most of the work.. Your only job is probably to press some buttons. It's far simpler than assembling a BMW or VW gasoline car.

@harisoepangkat6085 14 күн бұрын

@@catlover7971 Really? 80% of French electric power comes from nuclear and Germany hates nuclear power relying mainly on gas-fired power generation