Competitiveness: nine companies are working on the German secret pact

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economy competitiveness

Nine companies are working on the secret pact in Germany

| Reading time: 3 minutes

05.23.2019, Hessen, Frankfurt am Main: Christian Sewing, CEO of Deutsche Bank, attends the annual Deutsche Bank Annual General Meeting at the Frankfurt Festhalle. Photo: Arne Dedert / dpa (Notice on rights: picture alliance / Arne Dedert / dpa) 05.23.2019, Hessen, Frankfurt am Main: Christian Sewing, CEO of Deutsche Bank, attends the annual Deutsche Bank Annual General Meeting at the Frankfurt Festhalle. Photo: Arne Dedert / dpa (Notice on rights: picture alliance / Arne Dedert / dpa)

Christian Sewing, CEO of Deutsche Bank, is the promoter of the "Initiative der Deutschen Wirtschaft"

Source: picture alliance / dpa

Nine companies join in exclusion for an "initiative of the German economy". Together, they want to strengthen the country's competitiveness. Now the first details become known. And the criticisms.

According to information from WELT AM SONNTAG, nine German companies are working on a secret plan designed to strengthen the country's competitiveness. To this end, Christian Sewing, CEO of Deutsche Bank, founded the "Initiative der Deutschen Wirtschaft". This wants to help politics with its proposals.

Participating companies include Deutsche Bank, Axel Springer (WELT, "Bild"), Bayer, Daimler, Deutsche Boerse, Lufthansa, SAP, Siemens and Trumpf. "Acting now – working together for a sustainable Germany in Europe" is the title of an unpublished position paper of August 21, which is available on WELT AM SONNTAG and is still being worked on.

Germany loses its appeal for the first time since 2005

According to a recent study, foreign investors have significantly reduced their exposure to Germany. At the same time, the dissatisfaction with the general conditions has grown, as emerges from a study of attractiveness throughout Europe.

In just over four pages, the experts will discuss five key topics. These include the use of data, employee training, the question of how to bring inventions to market and investments faster.

Strong pact

In January, the head of the German bank Sewing, on the fringes of the Davos World Economic Forum, held private talks with other German executives for a joint initiative taken. At the beginning of April there was a secret meeting at the bank's headquarters in Frankfurt, during which the group's leaders decided on a pact for Germany.

"Talking to each other alone is not enough. A common action is needed," is the creed of the initiative. There are many proposals for solutions, he says in the position paper. But too often they stressed the particular interests of their senders.

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They support one or the other objective or a certain technology and lose sight of the big picture. "What we need is the aforementioned holistic perspective on the opportunities and risks of individual developments, but also of their omission," the document states.

In order to guarantee Germany's future in a strong Europe on the basis of a new international economic order, it takes courage, momentum and determination, the authors write. "This is why we – a group of German executives of listed and medium-sized companies managed by the owners – are arriving on the scene. We companies must carry forward concrete proposals and invest in future sectors such as mobility, biotechnology or intelligence. artificial ".

There are also criticisms

"We work together on ideas to strengthen the competitiveness of Germany and Europe," says the circle of participating companies. However, some doubts according to WELT AM SONNTAG's information on the success of the initiative. "The document comes with a lot of fanfare," says an insider.

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The proposals are too clear. "There is almost nothing in the letter on the mega topic of climate change", is a criticism. Corrupts only from the clichés. "Our hypothesis is that Deutsche Bank, with all its problems, is mainly trying to positively position its boss."

Other companies, in turn, are probably just for Sewing's sake. "You can clearly hear that some join just because they like sewing and because they desperately need a sense of accomplishment," another reviewer said. In mid-October, the round wants to meet again and agree on how it goes.

This text comes from the next WORLD OF SUNDAY. We are happy to deliver it regularly.

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Source: World on Sunday

(t) Kunz-Anne (t) Bayer (t) Sewing (t) Christian (t) Axel Springer (t) Trump (t) Dams-Jan (t) Deutsche Bank (t) SAP (t) Lufthansa (t) Christian Sewing (t) Career (t) Europe (t) Axel Springer

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