New Vision to Lead Saxony's Industry Out of the Crisis

Saxony’s economy does not want to be merely an extension of other regions’ industries and aims to better capitalize on its strengths. In addition to a strong small and medium-sized business sector and skilled trades, industrial expertise, research and development, as well as microelectronics, life sciences, artificial intelligence, and robotics are seen as the Free State’s strengths. Following a high-level meeting in Dresden, a “vision statement” for Saxony’s economy was presented. It is intended to show where the state aims to be by 2040 and to serve as a compass in achieving that goal.

Saxony aims to rank among the top three states nationwide in terms of gross domestic product growth by then, clarified Economic Affairs Minister Dirk Panter (SPD). The Saxon economy is under considerable pressure, said Jörg Brückner, president of the employers’ association. Over the past three years, industry in the Free State has lost 19,000 jobs. To regain lost trust, policymakers must finally implement reforms. Employees must see “more take-home pay,” and the government must focus on its core responsibilities.