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Peter Altmaier saluted bauma, saying: ?This trade fair is a showcase for Germany.? In an address, the German economics minister also touched on the extremely tight housing market facing the country: ?We must increase the number of apartments at least by half in coming years.? The minister said the German government planned to invest up to 10 billion Euros in coming years to finance such things as public housing for low-income citizens, the construction of private apartment buildings and a program that provides parents with a government subsidy paid on a per-child basis to finance the purchase of their own home or condominium. The construction machinery industry that is showcasing its products over the next seven days will play a key role in this effort, Altmaier said.

Dr. Markus S?der shared Altmaier?s enthusiasm. ?bauma is the world?s largest trade fair,? S?der said. ?Highly innovative and gigantic construction machines from all parts of the world demonstrate the progress that has been achieved by the construction industry. The latest machines are even all-electric and emission-free. The construction industry is the indicator of our economic strength.? S?der noted that his father took him to bauma when he was a little boy: ?For me as a private individual, a visit to bauma has always been a highlight in my life.?

The Bavarian Minister President also spelled out the key factors that will affect the industry?s future: accelerating government approval processes, intelligent construction practices performed with the help of digital planning, and the level-headed management of area protection and construction activity.

The world?s largest trade fair is breaking every record again this year. Klaus Dittrich, Chairman and CEO of Messe M?nchen, said: ?With 614,000 square meters of space, bauma has grown once again this year. A total of 3,700 exhibitors from about 60 countries are showing their innovations here in Munich. Our visitors have come from more than 200 countries.?

The current debate in Germany about expropriating housing owned by major housing construction groups was also discussed during the opening of the exhibition. Altmaier and S?der both agreed on one point: Expropriation is the wrong way to take pressure off the housing market. S?der described it as a ?socialist idea that will not work.? Visitors can marvel at the gigantic crawler cranes, hydraulic excavators, mining vehicles and much more through April 14.