Germany's business associations expressed high expectations for Katherina Reiche of the Conservative Christian Democratic Union (CDU), who will become the country's next economic minister.
“The Ministry of Economy must play a key role in the new alliance,” said Peter Adrian, president of the German Chamber of Commerce (DIHK). “Germany is entering its third year of economic stagnation and we urgently need to regain momentum.”
He added that the company expects the new government to take “fast and tangible actions” including reducing bureaucracy, relief and faster licensing procedures.
Marie-Christine Ostermann, president of the Association of Family Entrepreneurs, said Reiche faces a “huge task” and is inheriting a slim ministry as the climate department will be transferred to the Ministry of Environment under the new administration.
“What family entrepreneurs expect is a promised economic shift,” Osterman said, adding that reducing bureaucracy must be a top priority.
Reiche, 51, will replace Robert Habeck of the Greens. She was a former Bundestag member and she has spent commercially in recent years, head of Westenergie, an energy provider of E.On.
The outgoing government under Prime Minister Olaf Scholz, who will be handed over to Melz on Tuesday predicts zero growth in Germany in 2025. Business groups warn that compared with international competitors, business groups warn of high energy costs, heavy taxes and skilled labor shortages, skilled labor shortages and slower planning and allowable processes.
