ASML will have to expand outside the Netherlands if Dutch sharply restrict immigration

ASML CEO Peter Wennink has again expressed his great concerns about national political decisions which threaten to limit the number of people allowed to immigrate to the Netherlands for work. He said during an interview on the RTL Z television program Z360 that the manufacturer of machines which produce microchips could be forced to move activities abroad if the company cannot find enough suitable personnel in the Netherlands.

"Ultimately, we can only grow this company if there are enough qualified people. We prefer to do that here, but if we cannot get those people here, we will get those people in Eastern Europe or in Asia or in the United States. Then we will have to go there," he said during the interview.

Wennink was speaking purely about where ASML can grow and expand in the future. He emphasized he was not referring to the Veldhoven company possibly moving headquarters.

It is not the first time that the company has spoken out on this subject. ASML immediately expressed its concerns after the general election in November. Two of the big winners in the elections, Geert Wilders (PVV) and Pieter Omtzigt (NSC), continuously repeated during their campaigns that the Netherlands needs to reduce immigration, especially for the purpose of labor.

According to Wennink, such a measure could have major consequences for a company like ASML, which needs many knowledge migrants. The demand for personnel at the company and in the sector is so great that Dutch talent alone would not be sufficient. "You have to understand when you propose these kinds of things that you also understand what the consequences are," said the ASML CEO.

ASML has over 9,000 employees in the Netherlands with a nationality other than Dutch. That represents roughly 40 percent of its 22,860 employees in the country. It also employs over 19,500 outside of the Netherlands, of which 8,225 are based in the United States, 9,100 are in Asia, and the rest are in Europe or the Middle East.

In a recap of its performance, ASML showed record turnover of 27.6 billion euros last year, a 30 percent increase. It recorded a net profit of 7.8 billion euros, an increase of 2.2 billion euros.

ASML is not the only company where developments surrounding the Cabinet formation are being closely monitored. Philips also said after the elections that highly-educated migrants are essential to the company for the international exchange of knowledge, experience and innovation.

According to the medical technology group, "economic and technological forecasts show that we cannot maintain our broad prosperity without knowledge migrants."