Belgium’s economic, political climate key attractions for foreign investors

A combination of factors — geographical location, openness in the economy, ease in the start of operations, productive workforce, world-class R&D ecosystem and an inclusive social and political environment — will make Belgium an attractive destination for Indian investors, said officials of the Belgium government.

“Belgium could be a strong hub to serve 500 million wealthy consumers in the region. In addition to excellent industrial infrastructure, with world-class port like Antwerp, the country is also a world player in segments that require a strong R&D,” said Mark Van de Vreken, Consul General of Belgium at a seminar ‘Your gateway to Europe: Belgium, organised jointly by BusinessLine and Consulate General of Belgium to South India.

Ar Rm Arun, Chairman, FICCI Tamil Nadu said in recent times Belgium had acknowledged the growing importance of India’s global role, both political and economic spheres.

With growing concerns over the impact of Brexit, Belgium makes a strong pitch for itself as an attractive hub in Europe.

“Belgium is the third most globalised economy in the world offering a highly accommodating economic, political and social environment for the foreign investors,” said Renaat Schrooten, Secretary Economy, Belgian Ministry of Economy.

“Belgium has been a consistently strong performer in R&D and innovation with universities that guarantee academic excellence,” he said. The seminar had two discussion sessions — one on the regulatory and incentive framework of Belgium, and another on business perspectives and success stories. Trade representatives of Belgium’s three key regions — Brussels, Flanders and Wallonia — talked about the opportunities. Filippe De Potter, Deputy Director Inward Investment, Flanders Investment and Trade said setting up a company in Belgium would be easier and Indian investors could run the company with non-resident directors.

He said Belgium supported the start-up ecosystem intensely and was welcoming start-ups from all over the world, especially from India. Officials from CSS Corp, Emrald Resilient Tyre Manufacturers and Petiva shared their best experiences

While FICCI (Federation of Indian Chambers of Commerce & Industry) was the business partner, other partners included Invest-Export Brussels, Hub, Brussels, Flanders Investment & Trade, Wallonia Export Investment, Southern India Chamber of Commerce and Industry and NASSCOM.

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