Why Luxembourg? - The American Chamber of Commerce ...

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4.1. Luxembourg’s value proposition for key business sectors Luxembourg, a leading international financial center Case study: ICBC Type of business • Publicly listed commercial bank. • 220 overseas subsidiaries, with a global network of more than 1,516 correspondent banks, Internet Banking, Telephone Banking and self-service banking. • Total assets reached ¥14,896.048 billion by the end of June 2011. • 16,267 outlets across China. • In 1998, ICBC Luxembourg Representative Office was established and upgraded into Luxembourg Branch in 1999. • In 2006, the group incorporated in Luxembourg its first wholly-owned subsidiary on the European continent. • In 2011, the subsidiary was renamed to ICBC Europe and opened five branches for business in five European countries (namely the Paris branch in France, Brussels branch in Belgium, Amsterdam branch in the Netherlands, Milan branch in Italy and Madrid branch in Spain). Key motivations to locate in Luxembourg • A gateway for the group to enter into the EU markets. • International platform, business-friendly environment. • Multicultural and multilingual workforce. • Favorable financial environment. • Develop its services through the “single passport system” applicable to EU financial institutions.
4.2. Luxembourg’s value proposition for key business sectors High-technology & environmental technology in Luxembourg Opportunities • A central position with efficient access to the European market. • The government encourages R&D via financial support: €250 million was invested in public research in 2010. • Ideal tax framework for R&D and IP. • Availability of a pool of high-profile engineers and researchers. • Companies find effective high-tech production centers, high-skilled workforce and high productivity in Luxembourg. A support for businesses • Ecostart Entreprise and Innovation centers support innovative businesses by providing them with active guidance until start-up stage. • Creation of PwC’s Accelerator in partnership with the Silicon Valley-based Plug and Play to help innovative companies grow. • The EcoInnovation Cluster is in favor of the Luxembourg environmental-technology Action Plan. It aims to encourage the development of eco-companies in Luxembourg to stimulate both environmental protection and hightech diversification. • The PRC Henri Tudor became the national resource centre for environmental technologies, leading research in the areas of life-cycle analysis, eco-design, eco-construction and renewable energy. • The University of Luxembourg hosts a high priority research program and has developed first-rate partnerships. Source: Statec, 2011 Luxembourg ranks 3rd out of the 40 wealthiest countries in global innovation-based competitiveness.
Page 1 and 2: Why Luxembourg? A unique location t
Page 3 and 4: 1. Located in the very heart of Eur
Page 5 and 6: 2.1. Why Europe is essential for in
Page 7 and 8: 3.1. Luxembourg’s general advanta
Page 17: 4.1. Luxembourg’s value propositi
Page 21 and 22: 4.3. Luxembourg’s value propositi
Page 23 and 24: 4.4. Luxembourg’s value propositi
Page 25 and 26: 5. Why Luxembourg? Presentation of
Page 27 and 28: 5.2. Working in Luxembourg The comp
Page 29 and 30: 5.4. Set up in Europe, a website de
Page 31 and 32: 6.1. Appendix 1 Luxembourg rankings
Page 33 and 34: 6.3. Appendix 3 A competitive total
Page 35 and 36: 6.5. Appendix 5 European comparison
Page 37 and 38: 6.7. Appendix 7 Aid for research, d

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