Belgium benefits from foreign investment

18th September 2007, Comments 0 comments

18 September 2007, BRUSSELS – Belgium landed a very high number of foreign investments last year. De Standaard reports this on the basis of a report from IBM.

18 September 2007

BRUSSELS – Belgium landed a very high number of foreign investments last year. De Standaard reports this on the basis of a report from IBM.

Foreign businesses started up 216 projects in Belgium last year, creating a total of 9,923 new jobs, a strong increase compared to previous years. Only 148 new projects were started up in 2005, which gave rise to 6,539 jobs. The main driver behind this increase last year was worldwide economic growth. If that comes to a standstill, however, the tide could turn, the report warns.

Flanders continued to score better than Wallonia and Brussels in terms of attracting new investments and jobs, IBM ascertained.

"Especially the chemical industry, the automotive sector and logistics generated large projects," says Patsy Van Hove. "Those are the top sectors, and these are primarily clustered in Flemish territory."

The report also shows that more and more competition is being posed by low wage countries like Vietnam, Pakistan and the Philippines.

[Copyright Expatica News 2007]

Subject: Belgian news

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