Owing to Brexit 42 foreign firms and 2,000 jobs benefit the Netherlands

Owing to Brexit 42 foreign firms and 2,000 jobs benefit the Netherlands

Owing to the impending Brexit 42 companies took the decision to establish a business in the Netherlands in 2018. This has helped in creating 2,000 jobs, as per the data of foreign investment agency (NFIA).

Many companies show interest

The European Medicine Agency will generate 900 jobs in Amsterdam. In November 2017 it announced its shift from London. Totally 18 companies made a move to do business in the Netherlands owing to the issue of Brexit. NFIA also confirmed that 250 businesses from across the world contacted the organization for discussion regarding commencing the Dutch operation owing to the issue of Brexit. This is a sign that many firms will also shift here. Additionally among these companies are:

  • Japanese investment bank Norinchukin
  • Maritime insurer UK P&I
  • Financial services providers MarketAxess and Azimo, and finally,
  • Media company TVT Media,

372 foreign companies established a business in the Netherlands in 2018. Collectively they generated 10,000 jobs and also invested €2.85bn. Furthermore, in 2017, US companies created many jobs, which were close to one-third of all jobs. The other prominent countries were China, Britain, Japan, and Germany.

The Cost

If the UK left the EU without making a deal, the cost to the Dutch government would be €2.3bn in 2019-2020 as per the Dutch Audit Officials. The expenses would be under the heads of extra customs and food safety services (€700m) and €1.6bn for higher EU contributions.

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