Where is Saxony's economy heading? Good prospects for experts

Where is Saxony's economy heading? Good prospects for experts

According to a report by www.welt.de,

Saxony's economy is facing a new phase of transformation, which experts see as an opportunity for increased innovative strength. It is recommended to expand electricity, hydrogen and broadband networks as well as renewable energies to unleash positive economic dynamics. Saxony's role as a semiconductor location and pioneer in electromobility is highlighted, and the planned settlement of the Taiwanese chip company TSMC is seen as a potential paradigm shift. It is emphasized that Saxony's economy now has the chance for a second transformation, provided that the mistakes of the first transformation in the 1990s are learned.

The Ministry of Economic Affairs' calculations indicate that significant investments of more than 30 billion euros will be made by companies themselves, as well as the EU, federal and state governments in the coming years. According to Economics Minister Martin Dulig, Saxony is trying to make a big leap forward, but warns against tripping itself up in the process.

It is to be expected that a successful transformation of Saxony is not only a question of the location and the companies, but also a question of the mental and motivational attitude of society. It is emphasized that Saxony has the opportunity to become part of a European growth region and is at the center of this.

Overall, the expert committee's analysis offers an optimistic perspective for Saxony's economy, provided that the recommended measures to strengthen innovative strength and overcome the shortage of skilled workers are successfully implemented.