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Rhineland-Palatinate entrepreneurs are worried about economic development in the state
The entrepreneurs in Rhineland-Palatinate are concerned about economic development in the state. “I don’t want to badmouth Rhineland-Palatinate as a business location,” said the general manager of the state association of business associations (LVU), Karsten Tacke, in Mainz. However, it can be seen that economic development in Rhineland-Palatinate is slower than in other federal states and Europe and that the investment volume of domestic companies abroad is very high. The country's economic output fell comparatively sharply in the first six months of the year. According to the State Statistical Office, the gross domestic product fell by 5.4 percent after adjustment for prices compared to the same period last year. Nationwide it fell by 0.3 percent in the same period. Rhineland-Palatinate…
Rhineland-Palatinate entrepreneurs are worried about economic development in the state
The entrepreneurs in Rhineland-Palatinate are concerned about economic development in the state. “I don’t want to badmouth Rhineland-Palatinate as a business location,” said the general manager of the state association of business associations (LVU), Karsten Tacke, in Mainz. However, it can be seen that economic development in Rhineland-Palatinate is slower than in other federal states and Europe and that the investment volume of domestic companies abroad is very high.
The country's economic output fell comparatively sharply in the first six months of the year. According to the State Statistical Office, the gross domestic product fell by 5.4 percent after adjustment for prices compared to the same period last year. Nationwide it fell by 0.3 percent in the same period. Rhineland-Palatinate is therefore in last place when it comes to economic growth compared to other countries.
The entrepreneurs in Rhineland-Palatinate are concerned about economic development in the state. “I don’t want to badmouth Rhineland-Palatinate as a business location,” said the general manager of the state association of business associations (LVU), Karsten Tacke, in Mainz. However, it can be seen that economic development in Rhineland-Palatinate is slower than in other federal states and Europe and that the investment volume of domestic companies abroad is very high.
The country's economic output fell comparatively sharply in the first six months of the year. According to the State Statistical Office, the gross domestic product fell by 5.4 percent after adjustment for prices compared to the same period last year. Nationwide it fell by 0.3 percent in the same period. Rhineland-Palatinate is therefore in last place when it comes to economic growth compared to other countries.
Rhineland-Palatinate entrepreneurs are worried about economic development in the state. According to the general manager of the State Association of Entrepreneurs' Associations (LVU), Karsten Tacke, it can be observed that economic development in Rhineland-Palatinate is slower compared to other federal states and Europe. In addition, domestic companies invest a considerable volume abroad. The country's economic output fell by 5.4 percent in the first six months of this year compared to the same period last year. In Germany, however, this decline was only 0.3 percent. Rhineland-Palatinate thus occupies last place in the country comparison of economic growth (Source: According to a report by www.zeit.de ).
These developments have several potential impacts on the market and the financial industry. Slow economic growth can deter investors and lead to a decline in investment. This, in turn, can lead to a reduced business climate and lower job creation. In addition, low economic growth can lead to lower demand for financial products and services.
The shortage of skilled workers and high energy prices are cited as the main reasons for this development. In order to counteract these challenges, easier and faster access for foreign skilled workers to the labor market is required. It is proposed to reduce bureaucratic hurdles and make it easier to recognize foreign qualifications. Furthermore, measures must be taken to reduce energy prices, as these place a burden on companies. The expansion of renewable energies is mentioned as a way to expand supply and reduce energy prices.
The current challenges require a rapid response from politics and business. It is crucial that the framework conditions for companies are improved in order to stimulate economic growth and make the location more attractive. Close cooperation between the public sector, companies and financial institutions is necessary to find suitable solutions and promote economic development in Rhineland-Palatinate.
Read the source article at www.zeit.de