Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Kuwait - Govt Expected To Sign Free Trade Agreement With GCC In 2014  Join our daily free Newsletter

MENAFN - Qatar News Agency - 18/12/2013
No. of Ratings : 0
Add to Mixx!



(MENAFN - Qatar News Agency) The Ambassador of Switzerland in Kuwait, HE E. Thvoz recently hosted a business luncheon at the Swiss Residence to present on behalf of the Switzerland Global Enterprise and its Swiss Business Hub GCC well and less known facts and figures about Switzerland as a prime location for making economic investments. The presentations summarized the main factors for the benefit of those who attended the event focusing on 'Why Switzerland' as a preferred destination for investment and Switzerland as the Center of Excellence for Internationalization. The presentation on 'Why Switzerland' as a preferred destination for investment by Chris Watts, Regional Director, Kuwait and Raymund Furrer, SBH GCC spoke about 'Switzerland as the Center of Excellence for Internationalization'

Addressing the delegates who attended the event Watts said Switzerland is considered to be one of the most competitive and attractive destinations in the world, although 200 years back was one of the poorest countries of Europe since it lacked natural resources and direct access to oceans. He disclosed the Global Competitive Index report issued by the World Economic Forum for 2012-2013 Switzerland topped the overall rankings while Singapore remained in second position with Finland, in third position, overtaking Sweden which is in 4th. The main reasons for Switzerland's success, he said, are the four Ts: Talent - an excellent educational system due to attractive living and working conditions, well-educated and motivated people from all over the world; Technology - with hundreds of biotech, high tech and pharmaceutical companies, the Swiss industry goes far beyond the production of sophisticated watches; Tolerance - with four national languages (German, French, Italian and Romansch) and with a foreign born population of over 20 percent tolerance impregnates Switzerland and Taxation - structuring and tax solutions appropriate to the needs of worldwide operating companies. In terms of education, research and development, he called Switzerland an innovation hub because three percent of Switzerland's GDP flows into research and development; university research and development at the highest level; dual education system, highly qualified career entrants on the labor market and highest density of multinational enterprise per citizen.

Innovation
Taking into account European countries outside the EU, Switzerland confirms its position as the overall innovation leader among EU27 countries (EU average is 0.544 on composite indicator 0 to 1). In Switzerland innovation and creativity enjoy the best possible protection with well developed protection of intellectual property; comprehensive patent, trade mark and design protection, as well as exemplary copyright laws; higher degree of protection for new developments and inventions and top IP registration system and high innovation output. Switzerland also boasts of highest number of protected patents, trademarks and designs. In comparison to the rest of Europe, far more companies have launched innovations in the market in Switzerland, he said.

In the heart of the European Continent, Switzerland, a member of Schengen countries, is unique and independent, has signed a set of bilateral agreements with the EU and Free Trade Agreements with 28 countries including China (2013) and expected to sign with the GCC in (2014). In 2012 Quality of Living worldwide city rankings - Mercer survey, the cities of Zurich, Geneva and Bern occupied second, eighth and 10th places respectively. Switzerland has a flexible fiscal policy and fair taxation due to mild fiscal climate, moderate tax burden (thanks to debt brake) federalist system, reliable double taxation agreements, easy and reliable tax system, efficient cooperation with tax authorities and no 'exit taxes'. The labor cost in Switzerland is lower than expected and is believed to be 5-10 percent lower than in Germany.

Speaking of real estate, Watts said, commercial properties can be purchased without special permits (except land for construction). However, non-commercial properties need a permit when purchased by the buyer who lives outside Switzerland. He summed up saying Switzerland has 10 advantages over other European Union nations: strategic location, high productivity labor force, excellent education system, low taxation, sophisticated infrastructure, strong financial system, stable political system, innovation, high protection IPR and quality of life.

Private
Furrer said the Switzerland Global Enterprise, established in 1927 and based in Zurich is a private organization employing 170 people - 100 in Switzerland and 70 overseas and has offices in Lausanne and Lugano. He added the company works all over the world to support entrepreneurs and promote Switzerland as a business location to foster exports, imports and investments and help clients to develop new potential for their international businesses and reinforce Switzerland as an economic hub. He went on to say the company boasts of a global network (business hubs in target countries) of experienced advisers and experts and is a partner for "our clients, the cantons and the Swiss government."

Furrer also gave an insight and overview of the export promotion - products and services. He added, the company has more than 600 experts in the fields of strategy, marketing, sales, law, logistics, personnel, etc in over 45 countries. One hundred and fifty experts, he said, carry the quality label 'Certified Expert by S-GE'. The highlight of 2014 includes, he said, the Free Trade Agreement EFTA-GCC covering industrial products, services, public procurement and e.a. and a road show to address business communities.

He summed up saying the Switzerland Global Enterprise provides potential foreign investors information about the particular strengths and operating conditions of Switzerland as a business location. This is in addition to its foreign companies which include assessing the potential of their projects before they are presented to cantons and S-GE assists the cantons with the relocation of foreign companies, providing market trend analyses and coordinates the activities of all bodies involved in the promotion of Switzerland as a business location.

 






  MENA News Headlines
 Aug 20 2014 - Saudi- Red Sea Housing net profit rises 23.13 to SR40.78m in Q2Arab News
(MENAFN - Arab News) Red Sea Housing Services Co. (RSH) has posted outstanding performance for the first half of 2014 revealing operating income of SR41.59 million a growth of 17.69 percent compared ...

 Aug 20 2014 - Saudi- Shelter for minors reduces beggaryArab News
(MENAFN - Arab News) Child beggary on the streets of Jeddah has decreased by more than 50 percent thanks to the opening of a juvenile shelter in association with Al-Birr Charitable Society said Hani ...

 Aug 20 2014 - Saudi Aramco's iThra program attracts thousands of visitorsArab News
(MENAFN - Arab News) Saudi Aramco's iThra Knowledge Program has attracted 300000 visitors during the first two weeks of the event. The program which is being held at the city's International ...

 Aug 20 2014 - Saudi- New office to oversee Haj-related activitiesArab News
(MENAFN - Arab News) The Haj Ministry has approved a new management office aimed at monitoring Haj-related programs and arrangements more effectively.The 'strategic initiative management office' ...

 Aug 20 2014 - Saudi- SFDA warns against contaminated chocolate drinksArab News
(MENAFN - Arab News) Before consuming any of the chocolate drinks produced by Milchwerke Mittelelbe GMBH and listed below check the expiry date first. If the product is packed in plastic containers ...

 Aug 20 2014 - Saudi- JCCI bridges gap between courts and businessmenArab News
(MENAFN - Arab News) A delegation from Jeddah Chamber of Commerce and Industry (JCCI) visited the headquarters of General Court in Jeddah.The delegation consisting of Vice Chairman of JCCI Ziyad bin ...

 Aug 20 2014 - Saudi- Holmstrom named as new US CG in JeddahArab News
(MENAFN - Arab News) New US Consul-General Todd Holmstrom arrived in Jeddah on Aug. 6 to assume his post.Prior to his appointment Holmstrom served as deputy chief of mission in N'Djamena Chad from ...

 Aug 20 2014 - Saudi- KACST scientist wins US physics awardArab News
(MENAFN - Arab News) Dr. Ibtesam Saeed Badhrees a leading woman research scientist in experimental particle physics at the National Center for Nanotechnology King Abdulaziz City for Science and ...

 Aug 20 2014 - Saudia staff urged to improve servicesArab News
(MENAFN - Arab News) A leading Saudi Arabian Airlines official has urged Saudia executives and field workers at King Abdulaziz International Airport (KAIA) as well as other employees in maintenance ...

 Aug 20 2014 - Saudization poses challenge for surface transport sectorArab News
(MENAFN - Arab News) Saeed Al-Bassami vice president of the National Transportation Committee at the Saudi Council of Chambers and Industry has revealed that Saudization is one of the main challenges ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help