Invest in Germany summit promises more than 225 billion euros, Mertz attracts investment with image of "predictable" German

German Economy Minister Katherina Reiche said on Tuesday (October 20) that Germany has received more than 225 billion euros in investment commitments so far at the Invest in Germany Summit in Berlin. The summit attracted many business leaders.

Reich did not disclose specific details of the commitments that had been made, but she told German radio station Deutschlandfunk that the figure only counted transactions worth more than 100 million euros.

Companies planning to invest in Germany include online retail giant Amazon. The company said it plans to invest about 16 billion euros in Germany next year on multiple projects.

Amazon said the investments will include "expanding data centers and AI infrastructure, high-speed satellite internet service through Amazon Leo, new logistics projects across Germany, and a significant increase in new production content for Prime Video."

"Germany is a hub of innovation and one of the most attractive investment destinations in Europe," David Zapolsky, Amazon's chief global affairs and legal officer, said in a statement.

He said: "This is why we have invested more than 100 billion euros in Germany since 2010 and why we plan to invest an additional 16 billion euros in 2027. We want German businesses, communities and creators to have the infrastructure and tools they need to become more competitive and grow."

Merz praises Germans as "reliable and predictable" to boost investment

German Chancellor Mertz delivered the opening speech and said: "Germany is open to business investment."

At the summit, German Chancellor Mertz talked about various common stereotypes about Germany and Germans in order to shape Germany into an ideal place to do business.

"Germans are hardworking, go to bed early and get up before dawn. The most congested time is between 6 and 7 in the morning."

"On vacation, we are always the first to arrive at the beach and lay out the towels before breakfast. If we agree on a delivery date, we will stick to it. If you invite your German friends to dinner at 7pm, we will arrive at 6:58."

"We're reliable, predictable, rigorous and don't surprise people," Mertz said. "In short, we're exactly what investors like most."

Finance Minister Colin Beyer also used blunt humor when he told potential investors: "I want your money."

Both men's pitches appear to have paid off - hundreds of billions of euros of investment commitments were agreed upon during the summit.

“How to regulate AI in Europe?” “Without technology, supervision is impossible”

During the summit, Germany and the US technology giant Nvidia reached an agreement to deepen cooperation between the two parties in the field of artificial intelligence and promote the application of artificial intelligence technology in German industry.

Mertz and Nvidia CEO Jensen Huang said that the combination of Germany's engineering expertise and cutting-edge AI technology will help strengthen Germany's economic strength in the long term.

It is worth mentioning that Mertz asked "How should Europe regulate AI in Europe?" in a conversation with Jen-Hsun Huang. The latter answered bluntly: "If the technology does not exist, there is no way to regulate it." Huang Jen-Hsun believes that the industry must develop safety technology and then establish binding standards. Finally, the government and industry formulate regulations. If the AI ​​industry cannot flourish, "then there will be nothing to regulate."

Germany’s advantages and challenges in attracting foreign investment coexist

More than 200 executives from large German and international companies, investment banks and investment funds attended the summit. The summit also scheduled closed-door talks on Tuesday.

The summit aims to attract foreign capital to invest in Germany. The organizers emphasized Germany's sound public finances, the highest AAA credit rating, sound legal system, and leading position in European patent applications. Germany is the only country in the Group of Seven (G7) to retain a AAA sovereign credit rating.

Despite these advantages, Germany has faced difficulties in attracting foreign investment in recent years. High energy prices and rising labor costs have become factors hindering investment.

The German government said that private investment is crucial to filling the public funding gap as the government seeks to improve infrastructure and support companies in transitioning to climate-neutral production.