The Luxembourg Council for Foreign Trade and Investment met for the first time yesterday, approving a new national strategy for economic promotion and exploration.
Composed of Presidents of the Chamber of Commerce, industry group FEDIL, Luxinnovation and the Chamber of Crafts, as well as representatives from various ministries, the Council approved a strategy based around a common vision and five major objectives.
Speaking afterwards, Deputy Prime Minister and Minister of Economy, Étienne Schneider, set out the vision.
"The strategy for economic promotion is based on a vision that puts forward our innovative and diversified economy based on our traditions and our culture. With this in mind, the strategy seeks to help Luxembourg companies to conquer new markets abroad. In addition, the strategy targets foreign companies and investors who will bring real added value to the national economy by consolidating the country's qualitative development."
The objectives are to facilitate access to international markets for Luxembourg companies, attract highly targeted FDI, strengthen Luxembourg's international economic promotion networks, build a strong image of Luxembourg as a host country for companies and activities with high added value;
Ensure the coherence and relevance of economic promotion activities.
Representatives from the Chamber of Commerce, Luxinnovation, FEDIL and the Chamber of Crafts all voiced their support for the strategy.
Michel Wurth, President of the Chamber of Commerce, said "the Chamber of Commerce welcomes the reform of economic promotion as presented today as it focuses on Luxembourg companies. The internationalisation of companies has always been one of the flagship missions of the Chamber of Commerce. As a preferred partner of the governmental authorities in charge of economic promotion, the Chamber of Commerce has also set up the House of Entrepreneurship, which offers a consolidated offer of services to entrepreneurial entrepreneurs and foreign companies wishing to set up business Luxembourg.
“In addition, the strategy is in line with the country's more sustainable growth path for which the Chamber of Commerce has already embarked on the Rifkin Strategic Study."
Image: Nicolas Buck, FEDIL, Tom Wirion, Chambre des Métiers, Sasha Baillie, ministère de l'Économie, Étienne Schneider, Minister of Economy, Michel Wurth, Chamber of Commerce, Raymond Schadeck, Luxinnovation. © MECO
