If the Grand Duchy and its stakeholders manage to develop a strategic position, the effects of Brexit can turn out to be a great opportunity for the country. It’s time for international players to develop their European business activity from the Grand Duchy, and for British companies to consider what Luxembourg has to offer to maintain their link with the single market.
Alex Duwaerts - Director Client Development at EBRC
Only two years are left for the UK and the EU to agree on the details of a post-Brexit world. Economic stakeholders are among the first to reposition themselves. And because it is impossible to know the outlines of future trade agreements, many are considering developing positions on our side of the English Channel, to ensure simplicity of access to the single market.
Luxembourg key features - state-of-the-art infrastructure, connectivity, multicultural environment and influence at the heart of the European Union's densest economic territory - have to be brought to the forefront. Despite the importance of its financial centre, the Grand Duchy still isn't widely known as the best place to develop business activity in Europe. It is essential to intensify efforts to position the country alongside other major European cities.
It is up to us, and to other players in their respective fields, to showcase Luxembourg strengths. Many arguments can convince foreign enterprises to develop their European activities from the Grand Duchy. The first one is the language of business. Companies discovering Luxembourg appreciate the easy access to the authorities and key interlocutors. They find the entire ecosystem of their major business partners here - lawyers, consultants, banks,… The strength of this network is conducive to business. It speaks many languages besides English, the one language shared by all, which is less obvious in Paris or Frankfurt. The second argument is Luxembourg’s quality of infrastructures and connectivity ranking among the best.
Of course, some of the economic activity will remain in London, oftentimes it will be the heart of the business. But the environment is clearly changing, and so we need to work with business players and allow them to continue their development from Luxembourg. This is what we want to offer, through quality support services that meet their needs in IT and beyond. We want them to find the best way to maintain their link with Europe through EBRC.
By Alex Duwaerts
Director Client Development - EBRC
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