Saxony-Anhalt's Economy on the Upswing
Good news for Saxony-Anhalt! The number of businesses in this German state saw a slight increase last year, according to the State Statistical Office. Around 69,100 "legal entities" were counted, marking a 0.3% rise. This minor bump was interpreted as a "slight recovery in the economy."
The companies operating in this region employed nearly 650,000 individuals, representing a 0.4% increase. Moreover, the total number of establishments in the state, such as business premises, grew marginally, reaching approximately 78,000.
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The numerous businesses in Saxony-Anhalt significantly contribute to the economic statistics of the region. A closer examination reveals that the company sector in this state is exhibiting a hint of growth.
Behind the Scenes:
The state has a vested interest in 50 private companies and 16 public law institutions. This proactive investment strategy aims to prioritize sustainability in the state's private holdings.
- Sustainability Strategy: A strategic framework has been established to guide the 14 private companies in which the federal state holds a majority stake. This framework encourages the integration of environmental, economic, and social sustainability into these companies' corporate processes and strategies.
- State Holdings: The State Central Investment Management Office (ZBM) manages these holdings. The state has even issued a social bond worth EUR 500 million with a ten-year maturity as part of its ESG framework, demonstrating its commitment to sustainability and market presence.
- Regional Impact: The focus on sustainability and the promotion of private companies are expected to have a positive impact on the regional economy. By promoting sustainability, the state aims to minimize environmental risks, realize cost reductions, and enhance the appeal of these companies as employers, potentially mitigating labor shortages.
- Job Creation: While specific data on newly established companies or job creation in Saxony-Anhalt is unavailable, the state's active approach to economic development—particularly in the microelectronics and software industry—suggests promising prospects for job creation, aiming to generate over 100,000 jobs by 2030.
In essence, Saxony-Anhalt's commitment to sustainability and strategic management of state holdings contributes to a positive trend in the number of businesses in the region, which is expected to positively influence the regional economy and potential job creation.
