Last week the Danish government agreed upon the main elements of a growth plan estimated at 75 billion DKK which will improve the framework conditions for operating a business in Denmark.
Minister for Trade and Investment Mrs. Pia Olsen Dyhr says:
- “We are constantly working to improve the conditions for doing business in Denmark and I am very pleased that the Danish government can now launch these significant amendments which will make it even more attractive to run a business in Denmark.”
- “Foreign investors often point to the competent Danish workforce as one of the main reasons to establish a business here. As part of the new growth plan, we have allocated DKK 1 bn. ($ 175 mill.) for continuing education to further raise the competence level of our workforce in order to improve productivity and growth”.
- “Denmark is already ranked at the top of international surveys like the World Bank’s Ease of Doing Business report, and I hope that with the new improved framework conditions even more foreign companies will choose Denmark, when they are looking to expand or professionalize their business.”
Key elements of the Danish growth plan:
Improved access to financing. Better access to financing and liquidity for companies through an extension of VAT credit periods for companies, growth loans for entrepreneurs, small growth guarantees and new export guarantees.
In addition to the growth plan, the Danish Government has launched a number of initiatives in order to retain and improve Denmark’s position as one of the most advanced, competitive, and business friendly economies in the world. Those initiatives include the launch of an innovation strategy and growth teams within eight focus sectors.
The innovation strategy supports a goal-oriented approach to the creation of innovative solutions that can solve global societal challenges, while the growth teams bring businesses, organisations, Government and other stakeholders together to discuss specific industry growth conditions. These discussions will eventually lead to recommendations for the Government.
For further details about the growth plan and its implication for running a business in Denmark, please contact Nicholas Enersen from Invest in Denmark at email@example.com.