Belga

81 companies invest in Flanders thanks to Brexit

According to figures released by Flanders Investment and Trade 81 companies have invested in Flanders rather than in the UK since the United Kingdom left the European Union. Above all companies involved in transport and logistics, sales and marketing, telecommunications and electronics and chemicals have been opting to make investments here rather than in the UK. 

Flanders Investment & Trade looked into whether companies had changed their investment plans due to Brexit. The nationalist Member of the Flemish Parliament Cathy Coudyser asked to be given access to the figures. The daily ‘De Tijd’ reports that the figures show that the largest number of Brexit-related investments were made by companies at sites in Antwerp Province (35 out of 81), Flemish Brabant, East Flanders and West Flanders were good for 13 or 14 Brexit-related investments each, which 5 companies decided to make investments at sites in Limburg Province rather than in the UK. A total of 2,755 additional jobs have been created as a result of the investments. However, this only just about compensates for the number of jobs lost in our region due to the UK’s decision to leave the EU and not remain part of the customs union or the single market.

Flanders Investment & Trade says that in the main the companies that have invested in Flanders rather than the UK fall into two categories. These are companies from outside the EU that would otherwise have wished to use the UK as a point of access to the European market and UK companies that want to have a foothold within the European single market. By investing in a warehouse, offices or factories here these companies avoid a host of logistical issues and able to obtain the paperwork and certification required to enable them to carry out trading efficiently with the rest of Europe.

 

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