"Tightening of foreign trade law hinders investments"
By tightening the Foreign Trade and Payments Act, the Federal Government is sending out a completely wrong signal. If Germany wants to maintain its industrial base in the long term, foreign capital must flow into the country.
Ulrich Ackermann, head of the foreign trade department of the VDMA, comments on the tightening of the foreign trade law:
"It is regrettable that the Federal Government has largely ignored the objections of industry and has further tightened the Foreign Trade and Payments Act. Anyone who makes investments from third countries more difficult in the current dire situation of the global economy is sending out a completely wrong signal. If Germany wants to maintain its industrial base in the long term, foreign capital must flow into the country. Just as well, German companies also need to purchase foreign know-how in order to remain competitive - thus mutually open investment markets are essential. The investment review under the Foreign Trade and Payments Act restricts this openness. Such an examination is only justified under very narrow security aspects, which the existing law has long since covered.
Anyone who makes investment from third countries more difficult in the current dire global economic situation is sending out completely the wrong signal.
Of course, the risks to society and the state must be minimized if the operators of critical infrastructures are unreliable and thus the functionality of technical systems and companies is threatened. However, these risks must be combated where the rules apply to all investors, regardless of their nationality - the Foreign Trade and Payments Act is the wrong approach for this. And the 'undesirable' transfer of truly security-related technologies is prevented under the existing export control regulations."