BWI: Netherlands Ranks 8th in Global Competitiveness

Press release from Business Wire India
Source: Netherlands Foreign Investment Agency (NFIA)
Wednesday, October 06, 2010 01:55 PM IST (08:25 AM GMT)
Editors: General: Economy; Business: Media & entertainment; Technology
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Netherlands Ranks 8th in Global Competitiveness


New Delhi, Delhi, India, Wednesday, October 06, 2010 -- (Business Wire India) -- -- Up two positions in World Economic Forum's annual global competitiveness assessment for 2010-2011

-- Dutch businesses considered amongst the most sophisticated and aggressive in absorbing new technologies

The Netherlands has risen from the tenth to the eighth place in the 2010-2011 edition of the World Economic Forum's Global Competitiveness Report. According to the report Dutch businesses are highly sophisticated (ranked 5th) and are among the most aggressive internationally in absorbing new technologies for productivity enhancements (ranked 3rd for their technological readiness). The country's excellent educational system (ranked 8th and 10th for the two related pillars) and efficient factor markets, especially goods markets (ranked 8th), are highly supportive of business activity. Also the Netherlands' stable economic climate contributed to its high place on the ranking list.

Commenting on the ranking, Mr. Robert Schipper, Executive Director, Netherlands Foreign Investment Agency, India said, "Trade and foreign direct investment have not only driven our economy in the past but have now, also proven to be the way out of a financial crisis for the Dutch economy. Foreign companies and international trade take care of an important part of our economic growth. Interestingly, the slowdown has proven to be a good time for many strategic investments for foreign companies that have maintained steady balance sheets during the crisis by giving them a cost advantage and the opportunity to seize future markets with recovery on the anvil."

Pointing out the investment trends among Indian companies in the Netherlands, Mr. Schipper states, "We have received a lot of interest from Indian companies especially from the technology sector over the last 3 years. However, we are now beginning to also see Indian companies in the automotive industry, life sciences and pharmaceutical industries take a keen interest in investing in the Netherlands to reach out to the European market." He further adds, "The Netherlands has had a tremendous geographical advantage and has physically been the trade and transport hub for north-western Europe, its industrial heartland. The Dutch have centuries of experience in transporting goods into and outside Europe. The port of Rotterdam and Schipol Airport are the leading logistics hubs in the world. We speak the main languages of Europe and our population is fluent in English, the language of modern trade and business. All of these serve as major advantages for any business looking at a pan European presence."

The Netherlands Foreign Investment Agency (NFIA), India, an operational unit of the Ministry of Economic Affairs set up to actively promote foreign investments into the Netherlands, is primarily focused on attracting Indian companies across key sectors such as technology, pharmaceuticals, automotive, R & D, logistics, agriculture and water management among others, to invest in the Netherlands. Thousands of international companies have chosen the Netherlands for investment or expansion. These include leading Indian corporations such as Tata Consultancy Services (TCS), Tata Steel, Infosys, Wipro, Suzlon, Dishman, Moser Baer, Sun Pharma, Kirloskar Industries, Godrej & Boyce, NIIT Technologies and many more.

While Switzerland tops the overall rankings, the United States falls two places to fourth position, overtaken by Sweden (2nd) and Singapore (3rd). The United Kingdom, after falling in the rankings over recent years, moves back up by one place to 12th position. For more details on the report please visit www.weforum.org

About NFIA India

The Netherlands Foreign Investment Agency (NFIA) was initiated by the Netherlands Ministry of Economic Affairs to attract foreign investments into The Netherlands. Going by the enthusiastic response of Indian companies, the Netherlands Ministry of Economic Affairs decided to set up an office in January 2007 of its inward investment agency - the Netherlands Foreign Investment Agency (NFIA), as part of The Netherlands Embassy in New Delhi. The Agency's task is to promote the unique position of the Netherlands as a gateway to Europe and a bridgehead for Indian companies to successfully conquer the European market. The NFIA office in New Delhi assists and advises Indian companies who wish to take advantage of the excellent Dutch business environment as a strategic base to cover Europe. For more information on NFIA India, please log on to http://www.nfia-india.com


CONTACT DETAILS
Mukta Naik,Senior Partner, Saffron, +91 9811407359, mukta@saffron-india.com

KEYWORDS
ECONOMY, MEDIA, TECHNOLOGY

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