Switzerland Attempts To Woo Chinese Firms

by Ulrika Lomas, Tax-News.com, Brussels

22 December 2004

Switzerland’s State Secretariat for Economic Affairs (Seco) has formed a partnership with 14 Swiss cantons to launch a new promotional venture aimed at encouraging Chinese companies to set up shop in the country.

According to Marco Rhyner, project manager at Location Switzerland, the Swiss economic promotional body, the project will have a two-pronged strategy, designed to attract both Chinese firms to establish regional headquarters in Switzerland, and to draw wealthy Chinese individuals or entrepreneurs.

Noting that China is now a major player in the world economy, Ryner told the Swissinfo news service that: “We think the time is now right to start promoting Switzerland as a location within China.

He added: “We see huge market potential and we cannot just wait until companies are ready to expand abroad before contacting them.”

The primary targets of the Swiss initiative will be those Chinese firms that have already established a global presence and wish to develop a European market for their products.

The project coordinators have reportedly identified 50 to 100 potential targets, and plan to use the country’s established presence as a favoured location for multinationals and its favourable tax system as the major selling points.

Seco hopes that eventually, all 26 Swiss cantons will come on board the project.

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