Investing in Germany. Robert Gampfer Division 402 External Economic Promotion

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1 Investing in Germany Robert Gampfer Division 402 External Economic Promotion

2 Why invest in Germany? Why invest in Germany? 2

3 Germany offers... high labour productivity a first-class infrastructure a high level of innovation attractive pro-business policies top quality of life Why invest in Germany? 3

4 High labour productivity: high skill levels A highly skilled workforce: essential for top-tier productivity with and without university education: More than 100,000 new engineers and scientists (2008) 104 universities and 189 universities of applied sciences, including some of the world s top universities for engineering subjects Dual training system for skilled trades: combination of theoretical and practical training Close cooperation between vocational schools and business companies minimizes hiring and on-the-job training costs Why invest in Germany? 4

5 High returns on investment: moderate rises in wage costs Moderate rises in wage costs in recent years have had a comparatively positive impact on returns on investment Germany Eurozone Spain France Italy Portugal Development of unit labour costs in Europe. Source: Helaba, DIHK Why invest in Germany? 5

6 High level of motivation: working hours A high level of motivation also has a positive impact on productivity Average weekly working hours Source: Eurostat, GTaI Why invest in Germany? 6

7 High labour productivity: opinions from the business world Germany s level of training and process and product quality make it Europe s No. 1 investment location for US companies (US Chamber of Commerce, Business Barometer 2010) 82% of foreign-company managers surveyed rate German workers skill levels as attractive (Ernst & Young, Germany as a Business Location 2010) Despite comparatively high wage costs, our German locations are among the most productive worldwide thanks to the workers outstanding skill levels and motivation. (Rolls-Royce) Why invest in Germany? 7

8 First-class infrastructure 19 international airports, 34 seaports, 250 inland ports 230,000 km of roads 41,300-km rail network 7,500 km of inland waterways robust and excellently maintained German logistics companies are world market leaders excellent transport services Comprehensive, fast and reliable telecommunications infrastructure Source: GTaI Why invest in Germany? 8

9 Privileged geographical location At the heart of the EU, the world s largest single market: a population of 500 million, GDP: EUR 12,506 billion Germany is the economic centre of this market, accounting for 17% of the EU s total population and 20% of its GDP Close-knit network of road, rail and air connections to all neighbouring countries Also: perfect springboard for exports to Eastern Europe and Russia Why invest in Germany? 9

10 Privileged geographical location From Berlin, all European countries can be reached within 24 hours 3 h 1.5 h Kopenhagen Helsinki Stockholm Riga Moskau London Berlin 12 h Brüssel Warschau Prag Paris Wien Budapest 24 h Madrid 24 h 48 h Rom Athen Source: GTaI Why invest in Germany? 10

11 High Tech and Innovation 11% of the German workforce are employed in high-tech industries (EU average: 6.7%) Large share of GDP value added created in the high-tech sector Share of research-intensive industries in gross value added (Criterion: R&D expenditure of more than 2.5% of turnover in OECD countries) Source of data: GTaI Germany USA Japan EU Why invest in Germany? 11

12 High Tech and Innovation: Research Public and private expenditure on R&D: 70 billion EUR/year = 2.6% of GDP (EU average: 2%) Most of the EU s scientists work in Germany German research institutes are global leaders in basic and applied research (Max Planck Society, Fraunhofer Society); strong international networking Share of researchers working in EU27 Source: Eurostat, GTaI Why invest in Germany? 12

13 High Tech and Innovation: Business Innovation clusters: close cooperation between research institutes, the business sector and universities 2008: more than 11,000 European patents (twice as many as France and the United Kingdom combined) EU leader in patents that are also registered in the EU, USA and Japan ( triad patents ) German business sectors global leaders in terms of market size and growth potential: information and communication technology chemicals and plastics transport and logistics photovoltaics medical technology Picture: Hahn Meitner Institute Berlin Source: GTaI Why invest in Germany? 13

14 Attractive pro-business policies Corporate taxation reduced by nearly 10% in recent years Flexible labour laws as result of comprehensive reforms; wide range of working time models possible Autonomous wage bargaining in cooperation with trade unions helps maintain social peace (Germany loses comparatively few days to strikes on European average) Flexibility and planning certainty for employers, job security for workers (increase in unemployment during financial crisis: 3% - worldwide record low) Why invest in Germany? 14

15 Attractive pro-business policies Germany s national and regional governments offer a wide range of measures to support investment: Incentives Investment Incentives Package + Operational Incentives Package Cash Incentives Interest-Reduced Loans Public Guarantees Labor-Related Incentives R&D Incentives Investment Grant KfW Loans (National Level) State Recruitment Grants Investment Allowance 1 State Development Bank Loans Combined State/ Federal Training Support Loans 1 New federal states only Source: GTaI Wage Subsidies Silent / Direct Partnership Why invest in Germany? 15

16 Top quality of life Important factor in attracting and retaining highly skilled and contented workers Surveyed foreign managers rate quality of life as Germany s greatest strength: 87% in agreement (Ernst & Young, Germany as a Business Location 2010) High-quality, dependable public infrastructure and utilities Wide range of leisure activities available thanks to flourishing community life: e.g. 26,000 football clubs and 646 golf courses Attractive recreational facilities: 20 low mountain ranges, Alps, 2,389 km of coastline and 125 nature reserves and national parks Lively cultural scene: 80 opera houses, 550 festivals and 5,600 museums Why invest in Germany? 16

17 International companies recognize these strengths The results of recent surveys among international company managers are unequivocal: Germany attracts 13% of all foreign direct investment in Europe (3rd place), tending upwards 38% see Germany s attractiveness as a place to do business increasing 40% plan to invest in Germany 64% praise Germany s pro-business policies (Source: Ernst & Young, Germany as a Business Location 2010) Why invest in Germany? 17

18 International companies recognize these strengths Germany s strengths according to those surveyed: Quality of Life Attractive Overall Results 2009 Transport & logistics infrastructure Telecommunications infrastructure Workers skill levels Availability and quality of R&D very attractive fairly attractive less attractive unattractive no answer Figures in per cent; sampled population: all surveyed companies First column of figures to right of diagram: results for 2010; far right: results for 2009 Source: Ernst & Young Why invest in Germany? 18

19 How foreign investors view Germany s future 54% expect Germany to become even more attractive to investors over the next three years They foresee its becoming increasingly attractive for innovation activities, companies and highly skilled talent How surveyed investors see Germany in the year 2020: Global leadership in environmental technology Centre for research and development Model for entrepreneurially minded society Source: Ernst & Young Why invest in Germany? 19

20 Germany's future from the point of view of foreign investors Which European country will benefit from the crisis from your point of view? (figure 11) Germany France Poland Great Britain Switzerland Bright outlook for investors in Germany Russia Others Nobody Not specified Figures in % Source: Ernst & Young Why invest in Germany? 20

21 What support is available to investors? Why invest in Germany? 21

22 Support offered to investors by Germany s diplomatic missions Advice on doing business in Germany Organization of business forums, delegation visits, etc. Contact platform for local and German entrepreneurs opportunities for establishing business contacts Referral to Germany Trade & Invest and other German agencies for attracting and promoting investment Granting visas for trips to Germany, e.g. for site prospecting or setting up business Why invest in Germany? 22

23 Germany s diplomatic missions are powerful partners Global presence: 212 embassies and consulates in almost every country in the world Wide range of instruments for assessing the political and economic climate Excellent networking both locally and back home in Germany Advisors on the ground for prospective investors Assistance for investors provided in cooperation with German Chambers of Commerce Abroad and Germany Trade & Invest Confidentiality and competition neutrality are fundamental principles Consular assistance, e.g. with visa matters Why invest in Germany? 23

24 Other local contact points for investors Germany Trade & Invest (GTaI) is the foreign trade and inward investment agency of the Federal Republic of Germany advises foreign investors about their business ventures has 46 offices in all parts of the world German Chamber Network (AHK), Delegates and Representatives of German Industry and Commerce offer information on business opportunities in Germany broker contacts with German businesses 120 Chambers of Commerce Abroad in 80 countries on five continents Association of the German Trade Fair Industry (AUMA) draws up the German government programme for participation in trade fairs abroad coordinates the presentation of German companies and location marketing at trade fairs abroad helps organize foreign visitors participation in trade fairs in Germany Close cooperation with embassies and consulates Why invest in Germany? 24

25 Accompanying investors through the investment process The way German investment promotion is organized makes it possible to accompany investors throughout the investment process from their initial expression of interest to opening their business German diplomatic missions, German Chambers of Commerce Abroad and Germany Trade & Invest: initial orientation, potential contacts, referral to more specialized agencies both locally and in Germany Germany Trade & Invest: comprehensive range of support services for planning and executing investment projects, including contacting local authorities after choosing the business location Federal states Economic Development Corporations: advice on licensing procedures, legal details, etc Why invest in Germany? 25

26 Accompanying investors through the investment process: Germany Trade & Invest Broad range of services offered to prospective investors: Information on markets and competition in Germany and Europe Advice on choosing a business location Introduction to potential customers, partners and suppliers Advice on business models and market entry strategies Funding advice (including subsidies) Help with applying for subsidies Advice on the licensing process Why invest in Germany? 26

27 Accompanying investors through the investment process: Germany Trade & Invest Germany Trade & Invest s successful track record (2009): Advising 190 companies with concrete investment plans (increase despite the financial and economic crisis) Processing of 80 investment projects by referral to the federal states Economic Development Corporations Investment volume of EUR 700 million, 2,800 jobs Projects in the following areas: mechanical and electronic technologies renewable energy chemical industry and health care service sector Why invest in Germany? 27

28 Thank you very much for your attention! If you are interested in receiving further information on or help with investing in Germany, please contact: The local German diplomatic mission ( The nearest German Chamber of Commerce Abroad ( A Germany Trade & Invest office in your region ( Cover picture: Spiegel Online

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