Federal Minister for Economic Affairs Katherina Reiche (CDU) is calling for more "risk appetite" in Germany in order to loosen the shackles for companies and get the economy back on track for growth. This includes far-reaching structural reforms, a reduction in bureaucracy and the use of discretionary powers in approval procedures, said Reiche at the annual regional policy conference with around 600 participants in Chemnitz. She also wanted to work towards streamlining the promotion of regional economic structures (GRW). The regions are "drivers of innovation and production". There should be more investment incentives for small and medium-sized companies.
The upturn in East Germany in the 1990s was only successful because the authorities had interpreted discretionary powers in favor of companies and for positive success, said Reiche. Today, the focus is often on excluding all risks. This slows down such processes and hinders companies. In addition, there is a huge amount of documentation and reporting obligations for companies. In the past two years, they have had to create 325,000 jobs in order to fulfill bureaucratic obligations. These are only costs for the companies, which do not bring them one step forward. Reiche: "This has to stop."
