Brabant province still doing well

The euro crisis has affected the readiness of foreign companies to invest in the Netherlands, Brabant included. This is the conclusion of BOM Foreign Investments from reports received from abroad about companies stalling or even scrapping investment plans. “Brabant is still doing well abroad,” said BOM Foreign Investments Director Richard l’Ami, “but the present trend is cause for concern.”

There has been no halt to the interest in Brabant shown by foreign companies, and BOM is expecting investments for 2011 to total around 70 million euros. “That is less than the over 100 million euros we saw come in for 2010, but it still means an expected 500 new jobs,” said L’Ami. The forecast for 2012 is likewise reasonably favorable, according to the director. “However, this is primarily due to investment projects that were launched earlier. There are few, if any, new projects.”

Great respect
The fact that Brabant is still doing well, despite the ongoing financial crisis, is largely due to the region’s strong economic standing, says L’Ami. “Brabant is the industrial heart of the Netherlands, and foreign companies laud our business environment. The strength of Brabant, aside from factors such as its strategic location, infrastructure and working environment, can be primarily found in its high-tech environment, the R&D qualities we possess and the related knowledge levels. Brabant is one of the country’s main knowledge centers, which is why the province commands such great respect abroad. We have all the USPs required to be competitive at the international level, but these are presently under threat of being overshadowed by the economic developments that were engendered by the financial crisis. Internationally, there is a lack of confidence, and even the economic and financial stability of the Netherlands – which is one of our core values and international trump cards – has now come under pressure. Companies are treading water when it comes to foreign investments, which has global consequences, including for the Netherlands and this region.”

Upping acquisition levels
In view of the current situation, BOM Foreign Investments has decided to concentrate even more on its acquisition efforts. “We already had our eye on companies which were seeking a knowledge-intensive and internationally oriented operating environment in Europe,” says L’Ami. “This approach also fits in with the role that Brabant has been allocated in our key sectors policy. In this we will focus even more closely on the growth markets of China and India. We are naturally also looking at the desires and opportunities for expanding foreign companies that are already based in Brabant. This will be our task for 2012.”

L’Ami also identifies greater cooperation as a task. “We will have to do even more than we are presently doing and join forces. ‘Everyone for themselves’ is no longer feasible, and we’ll have to work together intensively with the major cities, both in Brabant and across the country as a whole. The promotion of the Netherlands and acquisitions abroad are increasingly geared towards Brabant. We will also have to do the same for them, and our work with the Ministry of Economic Affairs, Agriculture and Innovation and, in particular, the Netherlands Foreign Investment Agency (NFIA) has resulted in Brabant assuming a position in the global network of Netherlands Business Support Offices, embassies and consulates. This could mean additional opportunities for us, which we’ll certainly be needing in these times.”