Thursday 19 September 2019

UK firms going Dutch as Brexit date approaches


Jeroen Nijland of the NFIA
Jeroen Nijland of the NFIA
John Mulligan

John Mulligan

MORE than 300 firms are now in talks with the Netherlands Foreign Investment Agency (NFIA) as they consider moving operations to the country because of Brexit.

Ireland's IDA said it has approved more than 80 Brexit-related investments, with 5,300 associated jobs.

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Almost 100 firms, including media groups Bloomberg and Discovery, have already moved business to the Netherlands since the 2016 Brexit referendum, according to the agency. Half of those are UK based.

The agency remains in talks with 325 companies with operations in the UK and elsewhere that are worried about losing access to the European market post-Brexit.

"The ongoing, growing uncertainty in the United Kingdom, and the increasingly clearer possibility of no deal, is causing major economic unrest for these companies," said NFIA commissioner Jeroen Nijland.

"That is why more and more companies are orienting themselves in the Netherlands as a potential new base in the European market," he added.

The NFIA said it is competing with Ireland, Germany, France and Belgium to attract Brexit-related investment.

"Brexit remains bad news for the Netherlands," said Mr Nijland. "But with Brexit, more companies are going to choose our country in the coming years."

Irish Independent

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