Germany Scales Up Its Investment Promotion Activities

2007-01-12 10:15 985

New investment promotion agency ‘Invest in Germany’

BERLIN, Jan. 12 /Xinhua-PRNewswire/ -- The federal government announced today the merger of the two agencies "IIC - The New German Laender Industrial Investment Council GmbH" and "Invest in Germany GmbH." The new organization’s name is "Invest in Germany." Its mission is to promote Germany as location for business, investment, and technology and to actively identify business opportunities for international investors.

Dr. Horst Dietz, President of the new organization "Invest in Germany," called the move a clear signal to investors and the international competitors: "With the new Invest in Germany we will be in a much stronger position to promote Germany even better as a leading business and investment location. And it will allow us to support and advise international investors even more effectively and comprehensively. The new organization will combine our two major objectives, namely the international marketing for the business location Germany and the acquisition of foreign investors for Germany. This new focus further strengthens Germany’s competitiveness as one of the world’s most attractive locations for foreign investment. A larger budget as well as additional highly qualified personnel allows us to build on the successes of the past."

The "IIC" has up to now been responsible for attracting investment into the former East Germany -- the so-called new federal states. The company was founded in 1997 and has since then acquired investments totalling 4.7 billion Euros. Dr. Horst Dietz has been president of the IIC since 2002.

The mandate of the old Invest in Germany was to promote and market the business and investment location Germany in its entirety.

The new company will be headquartered in Berlin with 90 employees and will have offices in the United States, Japan, and China.

Source: Invest in Germany GmbH
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