Germany wants to become more visible – and more attractive – to international investors. To that end, the federal government has sought advice and appointed experts. In the second half of September, Friedrich Merz (CDU) appointed Martin Blessing as the Chancellor's Personal Representative for Investments in Germany.

At the Vice Chancellor’s Office, Lars Klingbeil (SPD) has established a kind of rival initiative – not as a one-man show, but on a larger scale. In early September, Finance Minister Klingbeil convened the Investment and Innovation Advisory Council, which began its work at the end of the month. The council’s agenda remained opaque, but Klingbeil made its mission clear, which closely resembles what Merz has planned for Blessing. Potential investors may find this rather confusing.

The Klingbeil Council is to advise the government on how best to spend the 500 billion euros in credit-financed special funds in ways that enhance competitiveness and foster innovation. The council is to identify barriers that block investment, and provide guidance on how to strengthen cooperation between public and private investment. The six-member council is chaired by entrepreneur Harald Christ and also includes representatives from academia, municipalities, and trade unions. Christ is politically well connected: he was an SPD member for decades, had a brief stint with the FDP, and left both parties disappointed by their direction. He views Klingbeil’s initiative as a mandate to devise smart solutions for mobilising private and institutional capital. Christ considers foreign investors’ interest in engaging in Germany to be high. This is precisely where the overlap with Germany’s Chief Investment Officer (CIO), Blessing, begins.

The former Commerzbank CEO and current Chairman of the Board of Directors at Danske Bank is expected to utilise his international network in his new role. Blessing has extensive experience in the financial sector and is also familiar with the intersection of finance and politics: when he took over Commerzbank in 2008, the financial crisis made the federal government a major shareholder. As CIO, he has been tasked by the Chancellor not only with mobilising capital but also with giving voice to investors’ concerns. He is to propose concrete measures to cut bureaucracy, speed up procedures, and improve conditions in response to Germany’s notoriously complex regulations and lengthy approval processes.

Both the CIO and the council serve on an honorary basis – no dedicated offices are planned. Blessing is attached to the Economic Department of the Chancellery, where he is to cooperate with its head, Levin Holle, as well as with the Economic Affairs and Finance Ministries. Christ has already publicly offered to collaborate with him. The Klingbeil Council, meanwhile, is linked to the „L“ Directorate-General at the Finance Ministry, ensuring a close connection to the minister.

However, this new cohort of advisers should not obscure the fact that Germany already has Germany Trade & Invest (GTAI), a national investment and trade promotion agency with more than 400 employees, a quarter of whom work abroad. The Chancellor nevertheless believes that its performance could be improved. Blessing, as the new Chairman of the GTAI Supervisory Board, is to restructure the agency, which is currently under the authority of the Economic Affairs Ministry.

To too few foreign investors, the government is now presenting an abundance of advisers. The coalition’s coordination does not appear convincing. Anyone looking to invest in Germany needs a phone number and a reliable point of contact – not several, each with unclear responsibilities. Too many advisers create too much need for coordination, a loss of time the coalition cannot afford. Investing in Germany was meant to become easier and faster, not more complicated.