, chief executive Thomas Schäfer warned that Germany and the European Union are rapidly losing attractiveness and competitiveness compared to the likes of the U.S., Canada, China, Southeast Asia, and regions across North Africa.is not price-competitive in many areas,” Schäfer wrote. “Especially when it comes to the costs of electricity and gas, we are increasingly losing touch.
Schäfer used the example of the U.S.’s Inflation Reduction Act, noting that it offers “companies highly attractive incentives for investments in new plants and production.” By comparison, he says “outdated and bureaucratic state air rules are adhered to” across the European Union.
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