Amazon to Invest Extra €10 Billion in Germany
Tech giant Amazon has announced a major new investment plan, committing an additional €10 billion ($10.7 billion) to expand its operations in Germany.
Investment Breakdown
According to Amazon, the majority of this investment, €8.8 billion, will be directed towards enhancing the facilities of its cloud computing subsidiary, Amazon Web Services (AWS), around Frankfurt. The remaining funds will focus on improvements in logistics, robotics, and the establishment of two new corporate offices.
Workforce Expansion
As part of this investment, Amazon's German workforce is set to increase. Currently employing around 36,000 employees, the company aims to boost this number to 40,000 permanent staff by the end of this year.
Scholz Welcomes Investment
Chancellor Olaf Scholz has welcomed Amazon's investment, noting that it underscores Germany's position as an attractive location for business. Scholz emphasized that the German government is actively working to strengthen competitiveness in the high-tech industry.
Historical Investment
Since 2010, Amazon has previously invested over €77 billion in Germany. The fresh investment is seen as a strategic move to help Europe's largest economy transition into more high-tech fields amidst economic challenges.
Conclusion
Amazon's continued commitment to investing in Germany highlights the country's importance as a business hub and aims to bolster the economy through technological advancements and job creation. This move aligns with Germany's efforts to stay competitive in a rapidly evolving global market.
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