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Sweden is one of the best internationalized economies not only in the European Union but in the entire world. Its central location, high productivity, first-rate infrastructure and encouraging policies really make it one of the best destinations for investment to foreign investors.
Sweden has an impeccable record being a supplier of quality innovations. Its strategic location really works in its advantage. Sweden is centrally located and hence you have an easy access to the highly prosperous domestic as well as the Scandinavian markets. The unique selling point of Sweden which really makes it stand out from other countries in the European Union is the simplicity it offers to businesses to do business in its international environment. It is open in its functioning and is transparent in providing information. There are really some results that corroborate this fact.
Recently, Sweden ranked second in the Global Competitiveness Report was placed in the fifth position in the globalization index. It has also earned the highest reputation ranking in the CountryRep 2010 which is an annual survey that measures the perception of the public of 39 countries across the world. These facts really reflect the fact that why Sweden is one of the most competitive economies in the entire world. It also has an abundance of skilled labor with generous labor regulations which in turn makes it easy for businesses to gain highly skilled laborers that can contribute a lot in growing their businesses by increasing the productivity of the businesses.
After some of the lows in the year 2009 owing to the global financial crisis, there seems to be a upward trend prevailing in Sweden. The construction industry, retail sale and private service sectors are on the way up whereas the business situation is strong for sectors such as manufacturing, automotives and retail.
The market share of Sweden remains unexplored and has lots of room for investment in almost all the sector of the economy. The private service sector accounts for the largest chunk in the market share of Sweden followed by the Retail trade and manufacturing and construction industry. Thus, there are lots of opportunities for investors to invest in the manufacturing sector, retail sale of non-durable goods and many others.
The Gross Domestic Product (GDP) of Sweden grew by 2.10 percent in the third Quarter of the year 2010. This growth rate was good from the last quarter of 2010. As far as foreign investment is concerned, Sweden has always been the preferred destination; this is evident from the fact that in the year 2007 the R&D sector of Sweden alone attracted 46 percent of the foreign investment. The major strategic partner of Sweden in terms of foreign investment is Australia. Several Australian IT and service companies have already invested in Sweden in large numbers.
Sweden has been long known as an industrial nation in the entire world which gives more importance to globalization and innovation. The various technological breakthroughs have made every industrial sector in sector a safe haven for investors. Some of the fastest growing industrial areas in which investors can really make it big in Sweden include automotives, cleantech, ICT, life sciences, material sciences, travel and tourism, financial services and many others. Apart from these, due to the Swedish government’s dedication towards driving the growth of energy efficiency and alternative resources of energy, Sweden also has a lot of potential for foreign investment in the environment, energy and green building industry.
The Swedish government reoriented its foreign direct investment policy way back in the year 1993 wherein it moved towards a more open and liberal policy against the complex restrictions. There were also some major structural economic reforms made in Sweden when it became a member of the European Union. Some of these include the deregulation of energy and air traffic sectors and attracting foreign investment in telecommunications.
Considering the importance of foreign investment and the benefits it brings to the overall development of the economy, the Swedish government is all dedicated to do everything possible to encourage foreign investment in Sweden. For this, it has already taken several measures in the past and is willing to take all the necessary steps that will help to eliminate the problems that hinder the inflow of foreign investment in the country. The Swedish government in the year 2003 abolished the capital Gain Taxes to attract more foreign investment. It also brought into force the Companies Act in the year 2006 which gives the foreign investors a better say in their stock businesses. Apart from these, Sweden already has one of the lowest corporate taxes rate in the European Union.
The Swedish government to attract and encourage foreign investment in the country has established several agencies such as the Invest in Sweden Agency or (ISA). The Swedish government has also established the Swedish Trade Council which helps to reinforce the global image of Sweden and increase business contacts between foreign and Swedish companies. For more information you can visit, http://www.investsweden.se and http://www.swedishtrade.se/om-exportradet/in-english/
A committed government who wants to encourage foreign investment, a strategic location, an upward growing growth rate and favourable economic policies, really make Sweden the best destinations to invest in the entire European Union. If you really wish to expand your business across the boundaries in the other countries then Sweden is such a place that you can’t ignore.
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