Bos: Sell off of the Netherlands is a myth
6 September 2007 , AMSTERDAM - Minister of Finance Wouter Bos (PvdA) feels that there is no question of selling off the Netherlands. It is a myth that ‘BV Netherlands’ would become prey to foreign raiders.
6 September 2007
AMSTERDAM - Minister of Finance Wouter Bos (PvdA) feels that there is no question of selling off the Netherlands. It is a myth that ‘BV Netherlands’ would become prey to foreign raiders.
“In fact there is nothing new under the sun,” Bos argued. He said this on Thursday at a seminar of the Holland Finance Centre, a foundation promoting the Netherlands as a favourable location for the financial sector.
Bos responded to the recent turmoil following a series of takeovers of Dutch companies. Bos is astonished about the newspaper headings such as ‘The Netherlands selling off’ or ‘Companies looted by financial barbarians’. Bos thinks that chauvinistic feeling are prevailing, normally speaking the ‘orange’ feelings are associated with football and the Royal Family.
Bos indicated that the figures of the Netherlands Bureau for Economic Policy Analysis (CPB) have not shown a dramatic increase in the number of takeovers of Dutch businesses.
Companies such the Hema (department store) Kruidvat (drug stores) and Johma salads that have a long standing tradition in the Netherlands were taken over by foreign companies a long time ago, Bos noted. “And coffee roaster Douwe Egberts has been in American hands since 1978. I have not heard any complaints about the taste yet,” Bos said.
The CPB figures also show that Dutch companies listed on the stock market generate on average 90 percent of their turnover abroad, while 80 percent of their staff live outside the Netherlands. If globalisation had not yet been invented, we would have done so,” Bos said.
[Copyright Expatica News + ANP 2007]
Subject: Dutch news