AmCham Germany: American subsidiaries praise well-educated workers, increase sales by exporting from Germany
BERLIN AND FRANKFURT AM MAIN, Sept. 26, 2012 /CNW/ - Despite the ongoing turbulence in Europe, American subsidiaries in Germany were able to increase sales last year, according to the latest survey of the top 50 American companies in Germany, conducted by the American Chamber of Commerce in Germany (AmCham Germany) and released today.
"The strength of the German-American economic partnership has a long, rich tradition. In terms of both trade and investment, we both greatly benefit from close ties," stated Jürgen Friedrich, Chief Executive of Germany Trade & Invest in Berlin.
The United States is by far the top investor in terms of FDI projects, according to data from the Financial Times fDi Markets database. More American companies have invested in Germany in the last five than the next three countries together. With nearly 850 projects, US companies outpaced Switzerland, Great Britain, and China combined.
Foreign direct investment does not only flow in one direction. In the same time period, Germany has invested in 813 projects in the USA, coming in second only to Great Britain. In the machinery and equipment industry, Germany is by far the top investor. Auto manufacturing is also an important sector for German investment.
A majority of companies surveyed in today's AmCham report indicated that they intend to continue to invest in the high-tech sector in Germany, a sign that this bilateral relationship will continue to grow. Companies praised the supply of well-educated workers and central location in Europe. On the other hand, the European debt crisis and the need for further qualified workers were identified as economic risks in the survey of top executives of the largest American companies in Germany.
"Our mandate at Germany Trade & Invest is to assist companies seeking to enter the German market and to encourage trade, so feedback from American companies - both positive and critical - is the most valuable tool we have. This enables us to work to consistently improve our business environment," continued Friedrich.
The top 20 American companies in Germany employ more than 300,000 workers. There are over 2,200 companies with US capital investments totaling EUR 130 billion, according to AmCham Germany.
Germany Trade & Invest is the foreign trade and inward investment promotion agency of the Federal Republic of Germany. The organization advises foreign companies looking to expand their business activities in the German market. It provides information on foreign trade to German companies that seek to enter foreign markets.
SOURCE: Germany Trade and Invest
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