US companies say Germany is a top business location
American companies continue to rate Germany as one of the best places in the world to do business. The American Chamber of Commerce in Germany, AmCham, reports that US business active in Germany have given the country even higher marks than in the past for its performance in 2019.
The grading is based on research done by AmCham Germany in cooperation with the consulting firm Accenture for its annual TOP 50 Ranking. US companies in the top 50 in terms of their German revenues were surveyed for the study. Among them are Amazon, Ford, and ExxonMobil, who are leading US companies here. In the latest rating, they gave Germany a grade of 1.8.
AmCham President Frank Sportolari said, "The confidence of the TOP 50 companies in the German economy is high. Of the TOP 50 companies, 50% have not reduced their investment volume in Germany in the wake of the COVID-19 pandemic, and 31% are even investing more in Germany than before."
AmCham noted that "Germany as a business location has shown its strength even during the crisis." It added that government measures taken such as short-time work allowance and rescue packages for freelancers and medium-sized companies characterize Germany as a business location. Furthermore, it expects the "German economy to recover significantly in 2021."
US pharmaceutical companies contribute to the favorable business climate in Germany. Johnson & Johnson, Stada Arzneimittel AG, MSD Sharp & Dohme, Pfizer, Abbot, and Bristol-Myers Squibb are in the top 50 in terms of sales here. Other healthcare sectors have strong trade relationships with the US as well.
Vice President of AmCham Germany and Chairman of the Board of Accenture Germany, Frank Riemensperger, said: "Transatlantic economic relations are much stronger than the public perception ... the two business locations are reliant on each other and work well together." HEALTH MADE IN GERMANY has published profiles of the country's healthcare sectors that detail their export and innovative strength and provide insight