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The economic initiative "Made for Germany" plans to hold new consultations with the German government at the end of next September regarding additional reforms.

One year after the initiative's first meeting with German Chancellor Friedrich Merz, Siemens CEO Roland Busch said that the recently approved reform package addresses many important issues but does not cover all problems, adding: 'These measures must now be implemented quickly and concretely, along with pushing forward other reforms.'

Busch specifically pointed to the need to make working hours regulations more flexible, explaining that Germany 'is the only country that regulates working hours on a daily basis, not a weekly one.' He also considered the proportion of part-time workers to be too high, adding: 'In the end, we in Germany have to work more,' according to the German news agency dpa.

The initiative currently includes 139 companies and investors from various sectors, who have pledged to invest more than 800 billion euros in Germany to improve its position as a business location by 2028.

For his part, Christian Sewing, CEO of Deutsche Bank, Germany's largest commercial bank, said that the recently announced reform package 'has clearly strengthened international investor confidence and increased Germany's attractiveness as an investment location.'

He added that foreign investors plan to inject investments into Germany 'with a large value amounting to hundreds of billions of euros.'

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