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Forty percent of foreign investments in The Hague region from China

PRESS RELEASE

The Hague, 26 January 2015

Forty percent of foreign investments in The Hague region from China

China largest contributor for the third consecutive year

In 2014, China accounted for the largest share of the 40 foreign investment projects acquired and assisted by WestHolland Foreign Investment Agency (WFIA). A total of 16 Chinese companies opted for The Hague region as their base for entering the European market last year. This is a continuation of the upward trend in business start-ups from China, which began in 2009.

WFIA is responsible for attracting new foreign investments and companies to The Hague region on behalf of the municipalities. Its annual results also demonstrate an increase in the number of new investment projects by foreign companies already established in the Netherlands. Out of the 40 projects, 12 involved expansion or relocation of an international company within the region. As a result, 165 jobs were preserved and 200 new jobs will eventually be created. Since 2008, in conjunction with the national government and the region’s municipalities, WFIA has been proactively approaching these companies with advice on implementing renewed investments.

“The Greater The Hague region is becoming more attractive for foreign companies and organisations. The position of The Hague as the International City of Peace and Justice and the presence of innovative companies together with the large international community are strong assets. The fact that foreign companies sign up for longer periods and additional investments shows that our international policy is successful”, says Karsten Klein, The Hague’s Alderman for Economic Affairs, Harbours, Welfare and Health.

The majority of investment projects occurred in the business services sector, followed by projects in IT & telecom. There were also some valuable additions to The Hague’s oil and gas cluster. Oilinvest, the parent company of Tamoil, opted to locate its headquarters in The Hague, while Petrogas from Oman set up business in Voorburg after taking over the Dutch operations of the oil company Chevron.

“WFIA assisted a total of 40 international companies to newly locate or expand in the WestHolland region, bringing 450 jobs in the next three years. This significantly added to the challenge of creating new employment and economic activity in this part of The Netherlands. WFIA again showed the importance of its role for the WestHolland region and Greater The Hague”, says Marleen Zuijderhoudt, Executive Director of WFIA.
In 2014, over 50% of new projects came from China and North America, both acquisition priority regions for WFIA. European countries such as the United Kingdom and Russia also accounted for a large share of the projects. Companies anticipate that their establishment here will be followed by growth and jointly forecast a total of 450 new jobs after three years.

2015 marks the 15th anniversary of WFIA. Since its establishment in 2000, WFIA has been actively involved in 500 investment projects by foreign companies, which have created some 8,000 jobs. Partly as a result of the start of the Investor Relations Programme in 2008, in which international companies are proactively approached with advice on implementing renewed investments, the number of investment projects supported by WFIA has increased significantly over the years.

WestHolland Foreign Investment Agency (WFIA)
WFIA attracts international companies and organisations and assists them to establish, expand or relocate their operations within the Greater The Hague region. In addition, WFIA supports the Municipality of the The Hague and The Hague Convention Bureau in attracting international conferences, seminars and non-governmental organisations (NGOs). WFIA was founded in 2000 by a number of cities in The Hague region.

Image: Minister of Energy & Industry Affairs van Qatar H.E. Dr. Mohammed Saleh Al-Sada during the opening of the headquarter of Muntajat in The Hague. Muntajat holds exclusive rights to market, distribute and sell Qatar’s chemical and petrochemical exports. WFIA assisted Muntajat with setting up in WestHolland.

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