On May 28, 2024, AmCham Germany hosted the Expert Webinar "The NRW-USA Year: Demystifying the Pitfalls of Investing in Germany." Theresa Winkels, AmCham Germany Chair, Regional Chapter North Rhine-Westphalia, and Director of the Düsseldorf Office of Economic Development, alongside Jay Carreiro, Commercial Consul at the U.S. Consulate General in Düsseldorf, welcomed participants with insightful remarks on the economic significance of North Rhine-Westphalia for Germany and Europe.
Dr. Catharina Klumpp from the global law firm Bird & Bird LLP opened the webinar by providing valuable insights into German employment laws, particularly relevant to those establishing new businesses or investing in existing ones in Germany. Lennart Schüssler, also from Bird & Bird LLP, expanded on this by discussing data protection and data transfer regulations in Germany and the EU. Matthias Spilker from Bird & Bird LLP addressed supply chain compliance, focusing on the new "Lieferkettensorgfaltspflichtengesetz" (LkSG) at the national level. Felix Schmidkte, also from Bird & Bird LLP, elaborated on the European Directive of the "Corporate Sustainability Due Diligence Directive" (CS3D).
Eric Wallner and Daniel Dueren of NRW.Global Business, a state-owned agency promoting investment in Germany’s economically strongest federal state, highlighted the business opportunities in the region. NRW.Global Business operates three offices in the US to support and facilitate transatlantic investment in North Rhine-Westphalia, inviting participants of the webinar to reach out to them for assistance.
The discussion concluded with Theresa Winkels inviting questions on key considerations for investing and starting a business in Germany.
