ICT, Logistics Strategies Refined in Rifkin Strategy Interim Review

The third meeting of the Foreign Trade and Investment Board to oversee and validate the implementation of the new economic development strategy was held on Wednesday 13 June 2018.

At the end of the meeting, Luxembourg's Deputy Prime Minister and Minister of the Economy, Étienne Schneider, presented the first interim review of the implementation of the new economic promotion strategy unveiled in February 2017. This strategy adopts a sectoral approach and targets foreign companies and investors that bring real added value to the national economy while consolidating the qualitative and sustainable development of the country.

Minister Schneider stated "The new strategy of economic promotion knows its first successes and it allowed us to refine the strategies of the various sectors like ICT or logistics that we consider as priorities to diversify and develop the national economy. By focusing on targeted approaches to attract businesses and skills in Luxembourg that are in line with the needs of our ecosystem and align with our sustainable economic development objectives, we are acting in line with the Rifkin strategy of the third industrial revolution."

The President of the Chamber of Commerce, Michel Wurth, commented: "It was essential that all concerned actors be involved in the implementation of the economic promotion strategy which becomes a partnership bringing together the public sector players as well as the private sector and acting in favour of the development of the Luxembourg economy. Thanks to the platform for potential investors we set up with the House of Entrepreneurship, we have become more professional in providing support and advice to potential investors interested in Luxembourg."

Nicolas Buck, president of FEDIL, said: "The image of Luxembourg is a key element for both the prospection and the promotion of Luxembourg as investment land. By transposing on the ground the promise of Luxembourg 'Let's make it happen', the new economic promotion strategy focuses on highlighting the country's strengths to attract new investments and assisting our Luxembourg companies in their efforts to improve their business. export and internationalisation."