Brexit boost helps foreign investment in the Netherlands recover

The Dutch foreign investment agency NFIA participated last year in support for 423 foreign companies either establish themselves in the Netherlands or expand their current activities, the agency said on Thursday.

The figure is a return to 2019 levels and shows business investment has stabilized since the start of the coronavirus pandemic, the agency said.

In total, the agency expects the projects to create nearly 13,400 jobs and generate investments of 2.3 billion euros over three years.

“Foreign companies make an important contribution to our economy,” said Economic Affairs Minister Micky Adriaansens. “For example, they account for 30% of total private spending on research and development in the Netherlands.”

Among the companies highlighted by the NFIA are Bristol Myers Squibb (BMS) which has started construction of its first European CAR T-cell therapy facility in Leiden and the Scottish company Enough, which produces alternative proteins from the waste of the nearby Cargill facility in Zeeland. .

Most of the projects – 106 – come from the United States, but 74 of those settling in the Netherlands come from Britain.

“This growth is largely due to an increased number of Brexit-affected businesses that decided to establish a presence in the Netherlands last year,” the NFIA said. “Since the 2016 referendum, 316 companies have chosen the Netherlands because of Brexit.”

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