MUNICH Bavaria’s new Minister of Economic Affairs is taking office with a clear commitment to the social market economy and free enterprise. "The general line of Bavarian economic policy in the coming years will be to boost entrepreneurial freedom and entrepreneurial responsibility, to ensure a fair approach to performance-based competition oriented towards small and medium-sized businesses and to encourage a reasonable social balance", the Minister commented. The aim of his economic policy will be to secure and enhance Bavaria’s leading edge in the field of employment, growth and prosperity. "I will fight for a positive development in all parts of the State. All the citizens of our State should have the chance to participate in its economic success. The best way to overcome poverty and guarantee social security is through competitive jobs for everyone", the Minister continued.
To stabilize economic development, Bavaria’s new Economics Minister intends to free the small and medium-sized businesses from their economic fetters and reduce the burden of costs on companies. Zeil: "The small and medium-sized enterprises need more entrepreneurial freedom and fewer tax burdens. We will encourage companies to be independent and willing to take on responsibility. And the same also applies to employees. Their performance must once again be rewarded more rather than punished. It is crucial to actively support start-ups, investments and innovations. That is best way to achieve new momentum for growth and employment."
In the light of the crisis facing the international financial markets and the worldwide economic downturn, Zeil warned against seeking a solution to the problems in a wave of nationalization. "We certainly do need better national and international rules in the financial markets, and in particular more transparency. But we also need strong, independent and competitive companies that are successful in the global markets and strengthen our domestic economy. To this end, the State must create reliable framework conditions and not nationalize key industries", Economics Minister Zeil underscored.
The Minister was seeking close cooperation based on a spirit of mutual trust with all those in positions of responsibility in industry and the employee organizations. The great challenges could only be overcome by working closely with the companies, the employees and their organizations.
Source: Invest in Bavaria
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