Since the British population decided that the United Kingdom should leave the European Union in a referendum in June 2016, Dutch investments in the UK decreased steadily and existing investments were even withdrawn. British investments in the Netherlands, on the other hand, more than quadrupled since the Brexit decision was made, Statistics Netherlands reported on Monday.
The Netherlands is attracting a lot of foreign direct investments, ranking 4th best in Europe after the United Kingdom, Germany and France, according to the interim Global Location Trends report published by IBM.
Last year the Netherlands attracted 396 foreign investment projects, which together created an estimated 9,500 jobs. That is a decline of 1.5 percent in foreign investment projects compared to 2017. As a result, job growth also declined slightly in 2018.
Over 250 companies are showing interest in moving to from the United Kingdom to the Netherlands due to the Brexit, a spokesperson for the Netherlands Foreign Investment Agency (NFIA) said to NOS. At the start of 2017 a total of 80 companies were considering moving to the Netherlands, and early last year there were 150.
Last year there were 339 foreign investments in the Netherlands, compared to 409 in 2016, according to the Barometer on Dutch Investment Climate by accountancy and consultancy firm EY. These investments created over 8,500 jobs last year, ANP reports.
With 152 foreign investment projects, Amsterdam accounted for 45 percent of all foreign investments in the Netherlands, compared to 40 percent in 2016. The Hague and Rotterdam both counted 42 projects with foreign donors last year.
All Dutch customers who invested in Icesave are to be refunded in full, the bank said last week. The online subsidiary of failed national Icelandic bank Landsbanki had offered Dutch customers five percent interest rates on savings, much higher than what was available in the Netherlands at that time, before going belly-up in 2008.
The Netherlands attracts many foreign investors. However, those companies pay only little tax because just a small part of their ‘investments’ end up in the real economy.