German Chancellor Friedrich Merz has urged investors to increase their involvement in Germany’s strategic industries, identifying defence, artificial intelligence and semiconductor manufacturing as key sectors for future economic growth.
Speaking at an investment event in Berlin on Tuesday, Merz said Germany was directing significant resources towards strategic industries as it seeks to boost productivity and strengthen its economic resilience.
“Our goal is to create the best possible parameters for you,” Merz told representatives from companies including Vulcan Energy and Helsing.
His appeal comes as Germany’s traditional industrial sector continues to face pressure from high production costs, bureaucratic hurdles and a prolonged period of weak economic growth.
Merz said government measures were beginning to deliver positive results, pointing to stronger economic activity, rising foreign direct investment and an increase in the number of startups.
He also highlighted the Made for Germany initiative, under which German companies have pledged more than €800 billion ($898.40 billion) in investments through 2028.
According to Merz, stronger economic cooperation across Europe would create additional opportunities for businesses by providing greater access to the European Union’s single market.
The chancellor also pledged to advance EU Inc., a proposed harmonised European corporate framework intended to make it easier for companies to operate across EU member states.
Germany is aiming to quadruple its artificial intelligence computing capacity by 2030 as part of efforts to strengthen its position in the global technology sector, Merz said.
He added that he was working at the European level to ensure AI regulations encourage innovation instead of creating barriers to technological development.
Merz said European rules should ensure that AI regulation is “opening the door and not closing the door before it happens.”
Goodness Anunobi
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