Germany is Attractive for International Businesses - Nokia's Decision Regrettable

Germany is Attractive for International Businesses - Nokia's Decision
Regrettable

BERLIN, January 15 /PRNewswire/ -- From the viewpoint of international
investors Germany is one of the most attractive business locations worldwide.
The most recent surveys of international executives as well as studies of
internationally renowned consultancies show this statement to be true. In
addition, today's published data on Germany's strong growth proves that
Germany has a competitive business climate. In this context, Nokia's decision
to close its factory in Bochum is particularly regrettable.
Today Nokia announced that it was planning to end production of portable
end devices in Germany. Michael Pfeiffer, managing director of Invest in
Germany, Germany's inward investment promotion agency issued the following
statement regarding Nokia's decision:
"Nokia is making a business decision about its future production
locations in Europe. However, we very much regret this decision especially as
Germany has won the favour of international investors in the past years. For
example, most recently a survey of top executives published in the economics
newspaper Handelsblatt showed that Germany is the most competitive location
in Europe, and is only behind China in a worldwide comparison. Germany scores
very well in areas such as Research and Development (R&D), workforce
qualification, and logistics. According to the consultancy Ernst & Young,
these are the most commonly named factors that influence investments. Of
course 'off-shoring' or 'out-sourcing' are not new phenomena. There is,
however, another side to this development: The outsourcing of production
allows for important investments to be made in R&D and correspondingly the
employment of highly qualified employees. Both international and German firms
are focusing on this combination and are consciously choosing Germany as
their location for high-tech investments."
In a 2007 study, Ernst & Young investigated the attraction of Europe as
an economic location. The results of this study make it clear that Germany is
the leading investment location in Europe according to international
executives.
Today's published numbers from the federal statistics office also show a
comprehensive and positive investment climate in Germany. In 2007 Gross
Domestic Product (GDP) grew by 2.5% over 2006. Business both inside and
outside of Germany contributed to this growth; the 8.4% increase in business
investments in 2007 versus 2006 was especially notable.
Media Contact:

Eva Henkel
Invest in Germany,
Phone: +49-30-200099-173
Fax: +49-30-200099-111
Email: henkel@invest-in-germany.com

http://www.invest-in-germany.com

SOURCE Invest in Germany

Media Contact: Eva Henkel, Invest in Germany, Phone: +49-30-200099-173, Fax:
+49-30-200099-111, Email: henkel@invest-in-germany.com