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Investments set competitive line

  • 2005-05-25
With its strategic European location, Demark has world-class competencies and a growing market, where quality is higher and costs are lower.

Living in an increasingly globalized world, there is a tendency among investors to choose locations where world-class competencies are readily available. This is why Denmark is focusing its efforts on the many areas in which it has a competitive advantage.

With prospects of lowering the corporate tax rate to a mere 28 percent, along with competitive business costs and flexible labor-market conditions, Denmark is an attractive choice for new investors. Combined with an excellent geographic location, outstanding infrastructure and leading-edge competencies within ICT, Energy and Life Sciences, Denmark is the perfect base for European activities.

Benchmarking

When investors begin comparing and short-listing European countries as possible investment destinations, benchmark analysis is naturally regarded as a valuable tool in the decision making process.

Denmark's official investment promotion agency, Invest in Denmark, has developed exactly this service. Its benchmarking tool enables comparisons of Denmark with 35 other major cities from 21 countries on 40 different parameters.

The model uses regularly updated data from a range of internationally acknowledged sources; one of the key advantages of the new tool is that companies can customize the parameters and tailor their own data input to exactly match their requirements and priorities.

Analysis consistently reveals that Denmark often competes and wins in benchmark comparisons when qualitative elements, such as flexibility of labor legislation, language skills, availability of skilled workers and so on, are blended into the overall quality-cost picture.

The importance of qualitative criteria in benchmarking cannot be overemphasized. For example, not every European country makes it easy for companies to quickly scale workforces in response to changes in market needs; or allows 24/7 operation if required; or can process a company registration in 3 days; or has a labor pool where over 80 percent speak English. But Denmark does, and differences like that can count for a great deal.

World's best location

Denmark has overtaken Canada as the most advantageous country to locate a business seen from a five-year investment perspective, according to The Economist Intelligence Unit's list of world investment magnets. It is the first time Denmark has taken a pole position as the world's best place to run a business. And in the EU region, Denmark now occupies the position previously held by Holland as the most business friendly country.