Toralf Haag, CEO of Voith Group, criticizes Germany's aggressive shift from traditional energy to renewables, saying it lacks sufficient incentives, support, and is hampered by bureaucracy.
- Jul 24, 2023, 9:00 AM CDT
A Federal Association of Medium-Sized Businesses survey revealed that 26% of medium-sized company directors are considering closing their businesses, while 22% are considering moving their operations abroad.The German economy is losing its DNA as a place to do business, and foreign investors are staying away and focusing their attention on emerging markets as a result, a leading CEO has claimed.
“There are ambitious goals, but only insufficient incentives and support to be able to achieve these goals. What we need is less bureaucracy, faster approval procedures and faster implementation. The way it is currently running, it will not work in the long run,” he told the newspaper. He explained that his company has had to hire 30 new administrative staff in the last two years alone solely to handle new regulatory obligations introduced due to more red tape.
“We now see almost every day that industrial companies are no longer investing in Germany but in other regions of the world. Administration and engineering may remain in Germany, but production, which is particularly valuable for an economy, is increasingly taking place elsewhere.
Danmark Seneste Nyt, Danmark Overskrifter
Similar News:Du kan også læse nyheder, der ligner denne, som vi har indsamlet fra andre nyhedskilder.
Chevron waives retirement age for CEO and reports strong oil earnings\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT.
Læs mere »
Chevron waives retirement age for CEO and reports strong oil earnings\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT.
Læs mere »
Musk Says Twitter Could Change Logo to 'X' SoonElon Musk said Sunday that he plans to change the logo of Twitter to an “X” from the bird
Læs mere »
OceanGate CEO Stockton Rush once had to cancel all Titan expeditions after sub's batteries 'accidentally flooded'OceanGate's CEO Stockton Rush once had to abandon all planned Titan sub dives after the vessel's batteries accidentally flooded during an expedition.
Læs mere »
Stockton Rush's OceanGate company behind doomed Titanic descent scrubs itself from the InternetThe company that built and launched the Titan submersible that imploded underneath the waves, killing all five men onboard including CEO Stockton Rush, appears to have erased itself from the Internet.
Læs mere »
Szafnauer trusts Renault boss De Meo to give him timeAlpine Formula 1 team principal Otmar Szafnauer says he trusts Renault CEO Luca de Meo to \u201cbe true to his word\u201d and give him 100 races to find success.
Læs mere »