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Hundreds of companies plotting Brexit switch

Politico, Feb 10

The Netherlands says it has attracted 1,923 jobs and €291 million in investment, and plans a lot more.

The Dutch government said it helped 42 companies move to the country in 2018 because of Brexit and is in talks with more than 250 others about a switch, according to a report out today.

The companies — including Japanese investment bank Norinchukin and media company TVT — translated into 1,923 jobs and €291 million in investment, the government report said.

The figures also includes the transfer of the EU’s European Medicines Agency from London and the opening of new office space by financial service providers such as MarketAxess and Azimo, in addition to shipping insurer UK P&I Club.

"These [newcomers] are predominantly British companies, but also American and Asian organisations that are reconsidering their current European structure due to uncertainties caused by Brexit," the Dutch ministry said.

In 2017, only 18 companies transferred operations. The report said both Bloomberg and Discovery were also planning extra investment, according to figures collated by the Netherlands Foreign Investment Agency, which works under the Dutch Ministry of Economic Affairs and Climate Policy.

In the race to attract jobs and investment from the UK, the Dutch did concede they face competition from Germany, France and Ireland in picking over the Brexit spoils.

"Due to the growing international uncertainty surrounding Brexit and changing global trade policies, the importance of a good Dutch business climate for all of us is continually increasing," said Eric Wiebes, minister of economic affairs and climate policy.

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