The city’s assets

Because of its geographical location, its convenient transportation connections and options, and the specialized education available at its universities, Berlin plays an important role in expanding economic ties with Eastern and Central Europe. The city conducts advertising campaigns aimed at attracting new businesses from these countries. Berlin is also an attractive international congress and trade fair location, with major events such as the Internationale Funkausstellung (IFA) – Your World of Consumer Electronics, the International Green Week, the Internationale Baufachmesse Berlin (bautec) for the construction industry, and the International Tourism Exchange (ITB).
The Berliner Wertpapierbörse securities exchange has become a specialized market for Eastern European stocks. The EU’s enlargement to the east has created the framework for a stronger exchange of services and for additional sales and production potential: enlargement has increased the population of the single European market by around 100 million. Projections for financial services, banks, and insurance companies are also positive.

Location factors

A highly qualified labor force, a large regional market, and a highly developed infrastructure also number among the city’s important location factors. Additional assets include its many available properties and its high quality of life, thanks to the natural environment, recreation areas, and cultural diversity. As a center of excellence, Berlin is relying chiefly on new and expanding technology fields: information and communications technology, multimedia, the media industry, environmental engineering, medical technology, biotechnology (an important example of which is the research park at Buch), and transportation technology are priority sectors. More and more effort is being put into organizing technology transfers and closer links between business and science. Since early 2001, the state of Berlin has had a “future fund” that can be used to help finance research and development projects in these priority sectors. Preference is given to projects jointly sponsored by science and business.

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