American Chamber of Commerce in Germany e.V. (AmCham Germany)’s Post

The flagship of the Hungarian EU Presidency: competitiveness📈 ➡ Hungary's EU Presidency programme for July 2024 puts a strong focus on boosting Europe's competitiveness! As part of the trio of presidencies shared with Spain and Belgium, Hungary aims to adopt a New European Competitiveness Pact, promote economic growth, green and digital transition and job stability. This focus reflects EU-wide concerns about declining competitiveness, highlighted by industry leaders and EU reports. Exciting times ahead for policy changes that could redefine Europe's market dynamics! Read Árpád Lapu's analysis now!👉 https://lnkd.in/dyfV7-vx #EUPresidency #EconomicGrowth #SustainableFuture #Hungary #DigitalTransformation #EUCompetitiveness

Chancellor Olaf Scholz was in Beijing until yesterday with an economic delegation to discuss economic issues with Xi Jinping and Li Qiang, among others. As is known, the German government called for a so-called, controversial "de-risking strategy" regarding China in 2023 – and finds the government in a slightly recovered situation – GDP growth in the first quarter of 2024 increased to 5.3%. "De-risking" is not to be understood as "de-coupling" from the EAC's point of view, but as the requirement for a strategically broader and more balanced positioning of supply chains and sales markets for European companies. Unilateral dependence on China is to be reduced in every area of value creation. The German economy in China has rightly criticized unfair framework conditions compared to Chinese companies for years. One approach for a continued successful positioning in the fiercely competitive Chinese market is the development and expansion of individual entrepreneurial competitiveness in the local market. The CEO of Mercedes Benz, Ola Källenius, formulated this to ARD as follows: "The best protection is to be competitive. And if you start to build trade barriers, first one and then the other, that leads in the wrong direction". According to a study by the Chamber of Commerce and Industry (AHK) in China, almost 80 percent of German companies justify new investments in China by the need to remain competitive in the billion-dollar market – and must. Because Chinese companies are becoming increasingly dominant in innovation and development, as EAC studies for the European Commission currently show. To remain technologically competitive, Germany must therefore not slacken in terms of innovation and must face the challenges in the Chinese market with the maximum possible and regionally intelligently positioned localization. EAC International Consulting has been assisting the German economy in strategic positioning in Asia for 30 years with > 6 offices – including one of the largest EAC companies in Shanghai; led by German and Chinese international managers and teams. For a more in-depth discussion, please feel free to connect with EAC International Consulting Partner Uwe Haizmann #EAC #China #Shanghai #De-risking #strategicpositioning #supplychain #riskdiversification

The continent's economy teetering on the edge, and who steps up? Germany - historically dubbed the "tired man of Europe" and currently the holder of the title for the continent's most enigmatic economy. 🇩🇪✨ In a plot twist worthy of a blockbuster, Germany is emerging as the unlikely savior amidst Europe’s economic turmoil. Just when you think all hope is lost, in strides Germany, defying expectations and rewriting narratives. It’s not just about being the largest economy anymore; it’s about resilience, innovation, and an unwavering commitment to sustainability that's setting Germany apart. This transformation is not just inspiring—it's necessary. As we navigate through these uncertain times, Germany’s approach offers valuable lessons in adaptation and forward-thinking. What stands out is how this shift underscores the importance of unexpected players in global economics. The narrative is clear: adaptability, sustainable growth, and innovation are key to staying afloat in today’s volatile economic seas. Behind this remarkable turnaround story lies a series of strategic decisions and policies aimed at boosting economic stability and growth. From investing in green technology to enhancing digital infrastructure, Germany is laying down a blueprint for sustainable development that many could learn from. But it’s not just about policies; it’s about mindset. Embracing change, seeking innovation, and prioritizing sustainability are principles that resonate deeply within the German strategy. So what does this mean for Europe and indeed for the global economy? It signals a beacon of hope—a testament to the fact that with the right approach, even those once considered lagging can lead the way forward. #EconomicResilience #Innovation #Sustainability #GermanyEconomy

European competitiveness. 🧐 Certainly a big topic, but it can also be as simple as discussing how we make it easy for businesses in europe to thrive. 🚀 This means simple and effective legislation. Sounds easy, but for the European institutions it turns out to always be darn hard. More and more complex requirements materialize quicker than any one person can keep up with, and businesses increase their operational overhead as a result. We need a shift in mindset. Legislation should first and foremost be simple and effective for businesses to adapt. Secondary it should adhere to most of the political priorities. NOT the other way around! That and many other things were discussed at Thursday's luncheon hosted by German Marshall Fund of the United States and Danish Industry, together with representatives from: - Danfoss - Topsoe - Google - Chr. Hansen - Tænketanken EUROPA - Digitaliserings- og Ligestillingsministeriet - Ministry of Foreign Affairs of Denmark - Danish Business Authority - Copenhagen Business School Great people and great discussions. Let's hope that the outputs are sufficiently clear, and taken seriously by the parliament and commission. Because we need a strong business environment for Europe to continue to thrive! Torsten Andersen, Rasmus Abildgaard Kristensen, Emil Fannikke Kiær, Jacob Funk Kirkegaard, Jonas Bering Liisberg, Rikke Nørgaard, Iben Schacke-Barfoed, Lise Mortensen, Rachel Herp Tausendfreund, Iarla Flynn, Sudha David-Wilp, Sophus Garfiel

Czechia at the Crossroads: Vision and Strategy for the Next 30 Years This was the title of today's conference organised by the Hospodářská komora České republiky with the participation of the Czech Prime Minister Petr Fiala.   The 2nd economic transformation (2. ekonomická transformace) initiated this discussion two years ago on how to restart the Czech economy. We find ourselves in the trap of a middle-income country, and the will for the necessary changes has diminished. That is why we are glad for the interest of the sectoral organisations and government representatives.   We agree that only partial "band-aids" are not sufficient to bring about the necessary reforms; a strategic and systemic approach is needed. The basis is investment in the education of people in the broadest sense of the word. Simply "pouring" money somewhere is not enough, we need to connect innovation, companies, and capital. In the 2nd transformation, we summarised this in three points: the Czech brand, openness, and sustainability.   I welcome the Prime Minister's interest in examining the long-term outlook for the Czech Republic and the establishment of a supra-ministerial Government Committee for Strategic Investments. As the 2nd Economic Transformation, we are interested in actively participating in its structure and activities through our representatives. However, data-driven work and collaboration across society are prerequisites for real results.   It cannot be done accomplished as an isolated task, it is not a one-term job, but it is essential to get started. We need to stop fearing changes like decarbonisation and instead leverage them for innovation and new opportunities.   I have been feeling for some time now that there is a great need in the business community to express the necessary steps that will lead to the modernisation of the country. Now words are no longer enough. The Czech Republic is at a crossroads and must not remain stagnant.

Is Germany about to become the “sick man of Europe” again? 💡   In the latest edition of our What if… series, we take a closer look at the symptoms of Germany’s new “sickness” and prescribe an action plan for the way forward.   Germany’s current economic issues are more significant than they initially appear. German economy exhibits the weakest recovery from the pandemic among the EU countries and, along with Sweden, is the only major European economy without growth in 2023. Germany’s industrial sector has been experiencing a decline in industrial production for several years now, suggesting that the current weakness is more structural than cyclical.   However, the traditional strengths of Germany’s economy have not become obsolete overnight. It does not only have the fiscal firepower to support economic reforms, but also the right brains to handle the transformation. Additionally, Germany benefits from a robust economic structure led by innovative SMEs, renowned for their world-leading expertise in diverse frontier technologies.   To navigate Germany's significant challenges, bold reforms are imperative. An “Agenda 2030” – or whatever you want to call it – should encompass five key elements: ➡️ Reducing policy uncertainty ➡️ Ramping up renewable energy ➡️ Boosting investment in infrastructure ➡️ Minimizing bureaucracy ➡️ Accelerating skilled labor migration   Interested in diving deeper? This way: https://lnkd.in/ekXQjt57

A new insight piece from Alexandros Nikolaidis and Horatiu Mudure exploring the EU’s competitiveness strategy, what it means for Europe, how policymakers are attempting to foster it, and how European industry can best prepare for the challenges ahead. https://lnkd.in/eGUS8PcT #EU #competitiveness #industry

Did you know that Austria 🇦🇹 is one of the Top 10 most innovative countries in the world? 🧑🔬 Austria’s R&D investment ranks 3rd highest in the EU, accounting for 3.3% of GDP in 2021, a significant leap from 1.9% in 2000. 💡 The country ranks 6th in the EU for patent activity and innovation, leading the “strong innovators” group on the European Innovation Scoreboard. 🌱 Austria’s growth in business R&D spending is equally impressive: Corporate R&D spending relative to GDP ranks 3rd in the EU, with 60% of Austrian companies engaging in innovation activities. Today, we celebrate this innovative spirit together with the Wirtschaftskammer Österreich at the event “Strong Research, Robust Economy” in Vienna. And from June 13-16, we will bring 50 BOLD Minds from around the world to Austria for our annual BOLD UnConference to shape he economy of tomorrow. #InnovativeAustria #GrowthMindset #BOLDCommunity #BOLDUnConference #starkeForschungstarkerStandort