Saxony Economic Development Agency records successful year 2023

The Saxony Economic Development Corporation (WFS) has recorded 2023 as a successful year. Investments amounting to around 10 billion euros and around 2,680 jobs were linked to 16 relocations and expansions, the WFS announced in Dresden on Monday. Minister of Economic Affairs Martin Dulig (SPD) put the investments in the Free State at more than 30 billion euros in the coming years. Saxony is a "successful state".

The objective situation is better than the perceived mood. It is important to ensure that small and medium-sized companies also benefit from large investments. The relocation of the Taiwanese semiconductor group TSMC marks a new era in relocations. This will make Saxony the fifth largest semiconductor location in the world. Saxony is also ahead when it comes to hydrogen. It has the opportunity to generate a "Vorsprung Ost".

According to WFS Managing Director Thomas Horn, the state's economic development agency assisted 900 Saxon companies with foreign trade activities last year. Exports fell by seven percent compared to the previous year to 49.7 billion euros. The decline was mainly due to a fall in vehicle exports, it was reported. The most important export markets were once again China, the USA, the UK and the neighboring countries of the Czech Republic and Poland.