ID :
164938
Tue, 03/01/2011 - 09:59
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Shortlink :
https://oananews.org//node/164938
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MALAYSIAN INVESTMENTS IN GERMANY GAINING MOMENTUM
KUALA LUMPUR, March 1 (Bernama) -- Malaysian investments in Germany is gaining momentum and expected to double within the next few years, said the chief executive of Germany Trade and Invest, Michael Pfeiffer.
Pfeiffer said since 2003, investments from Malaysia in Germany had increased annually by more than 21 per cent on average.
"According to the Bundesbank, the central bank of the Federal Republic of Germany, Malaysian investments in Germany for 2008 reached at least 51 million euros," he said during the German Business Forum on investment opportunities in Eastern Germany organised by the Malaysian-German Chamber of Commerce and Industry.
Pfeiffer also said there is no equity restriction for foreign investments in Germany and every company registered, is considered a local,irrespective of the origin of the respective investors.
"The biggest Asian investors in Germany come from Japan, China and India," he added.
The opening of Berlin's new airport next year, the Berlin Brandenburg International Airpot, he said, will witness increased investor interest from Asia, especially in Germany's high-tech region in the east.
"The airport provides direct connectivity between Eastern Germany and international locations," he highlighted.
The new airport is Europe's largest and will have a capacity of 27
million passengers when it opens, including an expansion option, to handle 45 million passengers annually.
Pfeiffer said eastern Germany,twenty years after reunification, has become a logistics centre in Europe.
"It has also become a cluster for a number of future industries, including renewable energy, semiconductor, and automotive industries,"he said.
He said the German tax system is also competitive as it allows for differing tax rates in German municipalities.
"On average, corporate companies face an overall tax burden of less than 30 per cent," he added.
He also said that significantly lower tax rates are available in certain German municipalities – up to eight percent less.
"The overall tax burden can therefore be as low as 22.83 percent. This makes Germany’s corporate tax system one of the most competitive among the major industrialised countries," he explained.
Pfeiffer said since 2003, investments from Malaysia in Germany had increased annually by more than 21 per cent on average.
"According to the Bundesbank, the central bank of the Federal Republic of Germany, Malaysian investments in Germany for 2008 reached at least 51 million euros," he said during the German Business Forum on investment opportunities in Eastern Germany organised by the Malaysian-German Chamber of Commerce and Industry.
Pfeiffer also said there is no equity restriction for foreign investments in Germany and every company registered, is considered a local,irrespective of the origin of the respective investors.
"The biggest Asian investors in Germany come from Japan, China and India," he added.
The opening of Berlin's new airport next year, the Berlin Brandenburg International Airpot, he said, will witness increased investor interest from Asia, especially in Germany's high-tech region in the east.
"The airport provides direct connectivity between Eastern Germany and international locations," he highlighted.
The new airport is Europe's largest and will have a capacity of 27
million passengers when it opens, including an expansion option, to handle 45 million passengers annually.
Pfeiffer said eastern Germany,twenty years after reunification, has become a logistics centre in Europe.
"It has also become a cluster for a number of future industries, including renewable energy, semiconductor, and automotive industries,"he said.
He said the German tax system is also competitive as it allows for differing tax rates in German municipalities.
"On average, corporate companies face an overall tax burden of less than 30 per cent," he added.
He also said that significantly lower tax rates are available in certain German municipalities – up to eight percent less.
"The overall tax burden can therefore be as low as 22.83 percent. This makes Germany’s corporate tax system one of the most competitive among the major industrialised countries," he explained.
