Press Release Mobility
Jul 14, 2016
Easy Landings in Germany’s East
Germany Trade & Invest organizes investor lunch in Singapore
Berlin, Singapore (GTAI) - The recent announcement of Singapore Technologies Aerospace’s EUR 40m investment in a new facility near Dresden, Germany, has been the latest boost to an area fast making up for lost time. ST Aerospace’s new project, a subsidiary producing lightweight components such as floor panels and cargo linings, is just one of many investments and new developments across all industries.26 years after Germany’s reunification, Germany’s Eastern states are alive with new investment and technological development.
At a luncheon event at Raffles Hotel on Thursday, July 14, representatives from Germany’s economic development agency Germany Trade & Invest will be able to explain in detail the reasons behind Eastern Germany’s rapid rise to becoming one of Europe’s most popular investment locations. The area, supported by heavy investment in infrastructure, has become a home to several burgeoning tech clusters, most notably in the automobile industry (Leipzig, in Saxony-Anhalt) and in the microelectronics industry (Dresden, in Saxony).
Germany’s microelectronics industry is a key enabler for innovative developments, especially in industrial and automotive applications. More than 50 per cent of all chips produced in Europe are made in Germany. Meanwhile, Germany is also the world’s premium car production hub. Around 40 per cent of the world’s premium vehicles are made in Germany; more than 70 per cent are from German Original Equipment Manufacturers (OEM). Germany has the highest growth rate in the usage of microelectronics for vehicles among well-established automotive regions and countries. The electronics and automotive industries’ turnovers combined are more than half a trillion Euros. Germany is the lead market in Europe for automated and connected car software, and the second-largest market worldwide.
As Germany presses ahead with heavy investment into the Industrie 4.0 concept, bringing together a plethora of high-tech concepts such as those above, not to mention additive manufacturing (or 3D printing), smart manufacturing and digitization among others, the Eastern States are gathering in importance. Investments there can be publicly-funded to up to 40 per cent, among many other advantages. “Singapore’s investors have a big opportunity awaiting them in Eastern Germany,” said Oliver Seiler, Director of Mechanical and Electronic Technologies at Germany Trade & Invest.
“It’s an affordable area with plenty of space and a well-trained workforce. It’s the ideal space from which to gain access to Europe’s 500m-strong market as well as taking advantage of Germany’s excellent R&D landscape in order to develop the investments, and the manufacturing world, further.” The event, to be held at the Raffles Hotel, 1 Beach Road, begins at 11.00am local time, starting with a series of business presentations and an address from the German Ambassador, His Excellency Dr. Michael Witter, culminating in a buffet lunch a little after 1.00pm.