2024-03-22 06:08:17
Most German company executives believe that the European Union has lost its attractiveness as a place to do business. Bloomberg reported this on Wednesday, citing a study conducted by the German Chamber of Commerce and Industry (DIHK), Day.Az reports with reference to TASS.
56% of the 3 thousand German companies surveyed noted that the competitiveness of the European Union as a place to do business has worsened over the past five years. As noted, only 7% of respondents saw an improvement in the EU’s competitiveness.
“Despite the more advantageous starting position, Europe risks losing ground in international competition,” the agency quotes DIHK head Martin Wansleben as saying, who called for “this trend to be stopped immediately.”
As Bloomberg points out, excessive bureaucracy and trade barriers are becoming factors causing dissatisfaction among German businesses. Rising costs due to rising energy prices are also having an impact.
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