Promoting national assets and skills to attract leading foreign companies: this was the objective of a large-scale study undertaken by PricewaterhouseCoopers, which is entitled “ Luxembourg: a prime location for doing business”. After defining the key advantages of the country in terms of quality of life (see October 2005 Flydoscope), the study authors analyse the niche market opportunities for developing the Luxembourg economy over the coming years. Photo: CRP Gabriel-Lippmann
In the race to become more competi
Historically, the first niche market of
tive in global markets, each country
this type was established in the car
must know how to make the most effi
industry, around fifteen years ago, dur
cient use of its resources. Some w ill rely on their brawn - their territorial or
ing the wave of restructuring in the
demographic strength - , while others
Goodyear,
w ill rely on their brains. The relatively
were already set up. The idea was to
sm all Grand-Duchy of Luxembourg,
promote their know-how in terms o f
has,
equipm ent, in order to attract new
of course,
taken
the
latter
steel and iron sector. “Companies like Continental and D elphi
approach! If it wants to stay in the run
businesses to the area and to forge
ning, “Luxembourg needs to focus on
sk ill chains. One o f the basic principles
its principal growth sectors and to capi
o f building sustainable niche markets
talise on their assets in order to gene
is to ensure that a country’s economic
rate higher value-added business se r vices", say the study authors Luc Henzig,
single entity, how ever powerful this
QJ
partner and Laurent Probst, director of
entity may be, but to bring together a
O </)
the PricewaterhouseCoopers Luxem bourg branch.
e rs ”, stresses Luc Henzig.
Q.
o
re x
68
developm ent is not reliant upon one
network o f complementary key play