Chancellor Olaf Scholz does not see Germany as being in danger as a business location.
When speaking about whether this is the case, the chancellor, said, "that is not true." He was speaking on Friday evening at an event sponsored by a local Bavarian newspaper, the Augsburger Allgemeine.
Scholz cited current direct investments in Germany, for example in semiconductor technology, which are also coming from abroad. Germany is an industrial country with a future, he said.
On August 8, Taiwanese chipmaker TSMC said it plans to construct a semiconductor plant in the eastern German city of Dresden with a total investment sum of €10 billion ($11 billion).
The plant is to be built jointly with Bosch, Infineon and NXP, each of which is to hold 10% in the joint venture. TSMC will hold 70%.
TSMC said about 2,000 jobs will be created. Groundbreaking is scheduled for the second half of 2024 and production is expected to start in 2027.
Scholz did not cite TSMC specifically but noted Germany is becoming a hotspot for high tech investment.
"We are becoming the production location for semiconductors in Europe," said Scholz. Statements about the threat of deindustrialization do not fit in with this and are also simply not correct, he added.
