Germany Set to Revamp Defence Industry: Strategy Paper in the Works

The German government is developing a strategy paper aimed at modernizing the country's defence and security industry, according to a spokesperson from the Economy Ministry. The strategy will include accelerated arms factory approvals and may be adopted by Germany's coalition in August. This news follows a joint venture agreement between Rheinmetall and Leonardo.

The German government is in the process of formulating a new strategy paper to overhaul the national defence and security industry, an Economy Ministry spokesperson confirmed on Sunday, though no further details were provided.

'I can confirm that the government is working on the strategy paper for the modernisation of the defence and security industry. It is being developed in several departments,' the spokesperson said, aligning with an earlier report by Handelsblatt.

Handelsblatt mentioned that the strategy paper would expedite the approval process for constructing arms factories in Germany by reducing deadlines and limiting objections from citizens. The three-party coalition aims to adopt the paper in August. This announcement follows a recent joint venture agreement between Germany's Rheinmetall and Italy's Leonardo to produce tanks and other land defence systems.

(With inputs from agencies.)