Germany news: Berlin conference seeks to drum up investment
The "Invest in Germany Summit" is set to kick off in Berlin as the government looks to fill gaps in public funding. DW has more.
A two-day conference, known as the Invest in Germany Summit, is set to commence in Berlin on Monday evening. The primary goal of the summit is to attract private investment to bolster public-sector spending. Chancellor Friedrich Merz will deliver the opening address, while an estimated 200 representatives from prominent German and international corporations are expected to attend.
Jensen Huang, the CEO of US chipmaker Nvidia, will be a notable guest at the event. The German government aims to collaborate closely with Nvidia, whose products are integral to the recent surge in artificial intelligence, in an effort to help Germany catch up in the sector. However, the German Economic Institute (IW) has cautioned against setting overly high expectations from the summit.
They emphasized that the country's high labor costs, energy expenses, and bureaucratic hurdles are significant deterrents to investment. IW director Michael Hüther stated to the DPA news agency, "It would be naive to believe that the summit will immediately alter this in the short term. Companies do not choose Germany based on promotional events.
What truly matters is whether they can generate profits here." A study by Allianz Research revealed that investment in Germany declined by 6.4% between 2019 and 2025, in contrast to a 6.7% increase in the rest of the eurozone and a substantial 20.2% growth in the US.
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