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Swiss National Bank
Strong Financial Sector Driving
Economy
Berne, location of one of the two head offices of the Swiss
National Bank, is investing significantly in strengthening
its financial services sector to enhance the Canton of
Berne’s attractions as a base for business.
One major project is a €1.65 million investment
in upgrading the operations of BEKB/BCBE, the
cantonal bank. Urs Gasche, President State Councillor
for Finance for the Canton of Berne, explains, “The
fact that Berne’s financial sector is so small has allowed
us to protect it during the crisis. Our investment in
the cantonal bank is aimed at increasing the attractiveness
of the canton as a business base and helping
local companies as well as ensuring customers of our
support. The bank is now a very self-sufficient and vital
motor of economic activities here in Berne.”
Solid performance during crisis
In fact, the canton’s budget for 2009 (totalling around €7
billion) showed positive results at the end of the year, with
around €119.6 million more than anticipated in spite of a
reduction in tax revenues as a result of the financial crisis.
Given these results, the canton’s Executive Council
decided to devote some €70.4 million to secure
future investments and €91.5 million to cover debt.
The government is also taking steps to deal with
the anticipated challenge of new laws on taxation
and health insurance. Overall, the Canton of Berne
achieved positive results from 2006 to 2009, managing
to reduce its debt by €140.8 million per year.
The Ministry of Finance has other projects in the works
aimed at further stimulating the canton’s economic
growth. These include significant improvements
to the canton’s infrastructure. The rail network is
being upgraded through a €65.8 million to €131.73
million investment, while around €2.31 billion
is being invested in upgrading the road network,
including building a ring road around Bern’s city
centre. Urs Gasche concludes, “We want to show
the world what the Canton of Berne has to offer. We
welcome foreign direct investment to help us fund
our current projects and to add to the strength of
our business sector. We are working to improve the
city’s image worldwide by showing people that Bern
is an exceptional place to live and work.”
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