Germany to protect health care sector from non-EU takeovers: Covid-19 legacy
Sawako Uchida and Lee Jay Walker
Modern Tokyo Times
Germany is seeking to protect the health care sector from takeovers from non-European Union nations. This is in response to the coronavirus (Covid-19) crisis.
The announced new policy is aimed at preventing foreign takeovers in this delicate sector, given the prevailing conditions. Equally, it highlights solidarity within the European Union (EU) and this is positive.
Japan, in the opposite direction, seeks to refocus on internal supply chains based on over-reliance on China. This applies to various sectors in Japan. However, for Germany, it is based on shoring up the healthcare sector. Thereby enabling Germany to respond quickly if a new wave of coronavirus – or another virus – hits the country.
Peter Altmaier, the Federal Minister for Economic Affairs and Energy stipulated, “The current corona crisis shows how important medical know-how and production capacities in Germany and Europe can be in crisis situations.”
Germany is planning for a future negative scenario where the health care system is protected from internal shortcomings. One only needs to look at how the United Kingdom is struggling. This relates to being over-reliant on foreign supplies.
Altmaier continued, “At the same time, the amendment makes an important contribution to the long-term maintenance of a functioning health care system in Germany.”
Past mechanisms meant 25 percent was the threshold when Germany would scrutinize foreign investment in the healthcare system. However, the threshold will now be 10 percent.
This bodes well for the EU because certain nations faced major internal problems during the height of the coronavirus crisis. Notably Italy and Spain. Therefore, the protective wall around equipment to protect health care workers, pharmaceutical ventures, vaccines, various medicines, ventilators, and other important areas will enable Germany to protect society.
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