‘Made in Germany’ initiative to invest €735b in economy by 2028

A “Made in Germany” investment initiative is set to contribute €735 billion ($864 billion) to the German economy by 2028.

An additional 44 companies have joined the initiative, which was first announced by Chancellor Friedrich Merz in July, according to a statement. It now comprises 105 mid-sized enterprises, start-ups and multinational firms such as Deutsche Bank and Siemens.

“The companies are ready to take on responsibility and act decisively to make a contribution to a turnaround in growth,” according to a statement.

The announcement came ahead of a meeting of Merz’s Cabinet in Berlin on Tuesday aimed at boosting the country’s struggling economy, improving competitiveness and reducing bureaucracy.

Ministers are expected to adopt a “modernization agenda” on Wednesday, providing for concrete measures to stimulate growth.

“We are doing everything we can to ensure that the German economy regains its footing and gets back on track for growth,” said Merz.

He welcomed the announcement by the initiative, which had initially set out investments of €631 billion after a summit at the Chancellery with business leaders.

The new €735 billion figure includes capital investments, expenditure on research and development (R&D), as well as commitments from international investors.

A “three-digit billion euro amount” is accounted for by new investments, the initiative said.

Source: dpa

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