China News Agency, Berlin, March 15 (Reporter Ma Xiuxiu) Intel announced on the 15th that it will invest 17 billion euros in the eastern German city of Magdeburg to build its super chip manufacturing plant in Europe.

Germany Trade and Invest said it was by far the largest foreign direct investment in Germany and Europe.

German media reported that Intel plans to invest about 80 billion euros in the European Union in the next ten years.

  German Federal Minister of Economics and Climate Protection Robert Habeck said on the same day that Intel's investment in Magdeburg will play an important role in promoting the German economy in difficult times, and it is also an important step forward for European digital sovereignty.

  Robert Hermann, general manager of the German Federal Trade and Investment Agency (GTAI), pointed out to a reporter from China News Agency that Intel's decision shows Germany's great victory as a business investment location and Germany's attractiveness to international companies within the EU.

  "We are delighted to be able to take a big step forward in semiconductor production in Europe and Germany," said Christin Eisenschmid, vice president and general manager of Intel Germany Ltd. Lay a solid foundation for addressing the global chip shortage.

  The analysis pointed out that Magdeburg, the capital of Saxony-Anhalt, is located in eastern Germany, and the state is one of the five "new federal states" after the reunification of the two Germanys.

The local area has moderate real estate prices and good location advantages.

In addition, Germany's talent, management, land advantages and financial incentives, as well as the size of the European market, are all favorable factors for Intel to choose Germany as the center of Europe to make this important investment.

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