Brexit companies flock to the Netherlands

By Hazel Davis

NFIA reports an influx of investment post-Brexit

                                

The Netherlands Foreign Investment Agency (NFIA) has reported that twice as many companies set up in the country in 2019 compared with the previous year.

Last year 78 companies made the move, up from to 43 in 2018, according to the NFIA.

The Netherlands is now home to 140 "Brexit companies" and the NFIA says it is talking to another 425 companies about a move or expansion in the country. These companies that have relocated are mostly in the areas of finance, IT, media, advertising, life sciences and health.

NFIA reports that media companies Discovery and Ridley Scott, credit rating agency AMBest and life sciences and health manufacturer Shionogi were among the companies choosing the Netherlands specifically because of Brexit.

The Netherlands is popular partly because of its location, NFIA commissioner Jeroen Nijland said.

"A large part of the European market can be reached within 500 kilometres,” he added. "And thanks to the strong infrastructure, the rest of Europe can be reached within 24 hours. Other countries do not have that advantage."

The NFIA estimates that the plans of these companies will lead to 11,000 direct jobs and €4.1bn (£3.41bn, $4.43bn) of investment.

FURTHER READING: Dutch bank NIBC in talks with Blackstone over €1.44bn buyout proposal

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