Delano December 2021

DECEMBER 2021

No. 84

Luxembourg in English

Georges Krombach : Pushing the boundaries The newly-elected FJD president and businessman on the seven taboos for Luxembourg leaders.

Brands we love: Luxebourg labels €4

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Between a rock and a hard place The very worst of humanity is on display at the border between Belarus and Poland.

As thousands of migrants sat behind razorwire fences in the freezing cold, politicians were playing hardball with their very lives.

Cited by Reuters, Vladimir Putin’s press secretary, Dmitry Peskov, said that failure to allow them into Poland was indicative of “Europeans’ reluctance to demonstrate commitment to their European values.”

But it is not just Moscow and Minsk that are questioning the EU’s so-called values.

Four Nobel prize winners in literature had earlier sent an open letter to European Council president Charles Michel and the European Parliament, pleading for them to pressure Poland into allowing medical and legal assistance to reach the migrants stranded in an exclusion zone. “What we are tolerating at these borders does not fit with our fundamental European values,” they wrote. That no aid is reaching these people as winter closes in is, indeed, shameful.

Caught between a rock and a hard place, European Council president Charles Michel suggested that the EU may fund a border wall.

He made the comments at, of all places, an event to commemorate the fall of the Berlin wall 32 years ago. That abhorrent idea would usually be dismissed out of hand but now has found favour in some quarters. Back in October, 12 member states had written a letter to Commission VP Margaritis Schinas and Swedish commissioner Ylva Johansson, who has the home affairs portfolio, saying physical barriers serve as an “effective border protection measure” and that they should be

“adequately funded from the EU budget as a matter of priority.” The European Parliament’s EPP group leader Manfred Weber also supports the idea.

Allowing the migrants to enter Poland and then to be taken in by other member states would be the right thing to do. But that is easier said than done. Luxembourg foreign affairs minister Jean Asselborn, in his annual foreign policy address to parliament at the start of November, reiterated his call for “mandatory solidarity”. But still too many member states are refusing to take up their fair share of refugees from the Mediterranean countries. Convincing them to welcome those migrants who have been lured into this political chess game by Alexander Lukashenko would be nigh on impossible.

Poland, itself caught between increasing frustration in Brussels at its shunning of the rule of law and what prime minister Mateusz Morawiecki says is Putin’s “determination to carry out a scenario of rebuilding the Russian empire”, is understandably wary of allowing the migrants in without any guarantees.

The politicians can, and will, move on.

But meanwhile, it is the migrants, some of whom have died already, who are truly left between a rock and a hard place.

Editor-in-chief, Delano digital DUNCAN ROBERTS

3

DECEMBER 2021

Editorial #Migration

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Contents December 2021

30 Business report

Brands we love: Luxembourg labels and client satisfaction

06 #POLITICS – TAINA BOFFERDING

“Domestic violence is a taboo” –

08 #BUSINESS – ALAIN HERRMANN

“ We will continue business as usual” –

10 #FINANCE – PHILIPPE SEYLL

“ It’s an alternative that we want to exploit” –

12 #CULTURE – YVES-MARTIN BOISCLAIR

“ People don’t tend to drink sake with non-Japanese food” 14 Dashboard

NATALIE BACHIRI VS FREDERIC BECKER

Foreigner voting rights

p. 22 Georges Krombach on leadership taboos and being part of a family business

40 Essay

The secret costs of digitalisation 44 Gusto

Conversations 16 POLITICS – ERIC THILL

“ Decentralisation is very important” –

22 BUSINESS – GEORGES KROMBACH

Apéro time 46 Business club 50 Pick’n’mix

“ Get out of your comfort Jobs of the future zone”

Photos

Guy Wolff, Illustration

Salomé Jottreau

Inflation, wine varietals, employment and public debt

38 Head to head

p. 16 Luxembourg’s youngest mayor Eric Thill on the future of the Nordstad p. 40 A data-driven economy... but at what cost?

DECEMBER 2021

Ristretto

5

Ristretto #Politics

DECEMBER 2021

6

“Domestic violence is a taboo” Speaking about domestic violence is a big step towards solving the problem, says minister of equality between women and men Taina Bofferding ahead of the UN’s International Day for the Elimination of Violence Against Women.

Police responded to 943 cases of domestic violence last year, up 11% compared to 2019.

What do these numbers tell us about how Luxembourg got through the pandemic?

Every victim of domestic violence, whether physical or psychological, is always a victim too many. Looking over the last year, the situation is more or less stable. We didn’t see an explosion like some countries--France saw an increase of 30% during lockdown.

Statistics are one thing, of course, and then there is reality. But we observed the situation intensifying in other countries and said we must put in place a crisis mechanism. There was never a gap in our response chain. When people called the police, they came. We guaranteed that services continued, that people who needed help received it. We had a situation where people were cooped up together. There were more tensions. But also, neighbours called the police because they were working from home and noticed. This is a new phenomenon.

It explains that more cases were reported, and this is good, even if it increases the statistics.

What is the feedback from players on the ground about people hesitating to seek help?

There is not daring, not admitting that you’re a victim of domestic violence, not admitting that someone is doing this to you. But there are also people who think this behaviour is normal, who have been used to this for such a long time they accept it as their reality.

And there is a financial aspect. Women living in toxic, violent relationships who aren’t financially independent will think twice about leaving their partner if they have nowhere to go.

25 November marks the International Day for the Elimination of Violence Against Women. How do such initiatives contribute to helping solve the problem?

They bring the topic into public awareness.

In the last years, many more people participated in Luxembourg. Communes take part, lighting buildings in orange. People use social media. It’s about coming out of the taboo and speaking about this in public. The whole #MeToo movement has shown how important it is to talk about it.

Supporting victims is one element, preventing violence another.

We invest a lot into working with perpetrators.

It’s a type of victim protection, a type of prevention. Not everyone thinks that this is something we should be doing. There are also voices saying we should only invest in victim support. We need both; they’re complementary.

Around a third of domestic violence victims are men. Where can they get support?

They can benefit from the same services as women. And there’s the infoMann service, which is exclusive to men and boys, where they can turn if they’re a victim but also if they simply need someone to talk to. Domestic violence is a taboo, but there is an awareness. Violence against men is an even greater taboo, because many men don’t want to say they’re victims of domestic violence.

Luxembourg has strict domestic violence laws, but what room for improvement do you see from a legal perspective?

There’s a cooperation with the justice minister and the interior security minister.

We screened the whole legislation, assessing whether it’s still up to date, how it responds to new types of violence, where we must adapt the law for support services. Next month we will present everything, so I cannot reveal too much now. But everyone in their area has short-term and more long-term points to work on.

Every victim is one too many, says Bofferding

Interview CORDULA SCHNUER Photo GUY WOLFF

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Ristretto #Business

DECEMBER 2021

8

“We will continue business as usual” Appointed in September as commissioner of the national commission for data protection (CNPD), Alain Herrmann talks about the institution’s focal points heading into 2022.

How does the increasing importance of GDPR and data protection translate into the work you’re doing?

The GDPR introduces… accountability, so it means that companies have to make their own decisions about comply[ing] with the GDPR... There is also a wish on [the] European level to develop data sovereignty, based on the values of Europe, data protection [being] one of the big ones, and which really concerns when you process data because you already process quite quickly personal data. Companies had to be forced, I would say, to comply with those elements.

So, of course, it raises the knowledge [and] interest on the topic; there are more professionals in this domain.

One other element, maybe a bit more negative, [which] also pushed the interest to data protection is now our power to investigate and to maybe give some fines depending on the investigations. This also moves companies, even if I think that it’s not something that should move a company.

The first purpose would be to respect data protection rules… If you set up your process, programmes, services by respecting those rules, it can create value also for these services, create trust…

Something I worked on before I was commissioner, and I will continue now, is certification… we are very [close] to be able to adopt a certification scheme under GDPR, and we would be the first ones doing this in Europe. If everything [goes] well, we should be able to have this in the first trimester of next year.

The codes of conduct are another kind of tools.

In Luxembourg, they have to be developed by the sectors themselves… I will also push to promote these kinds of tools [that] are recognised by the CNPD to help companies to comply…

Could you give me a snapshot on the breaches notified to the CNPD this year?

We have between 30 and 35 notifications of data breach a month--quite stable since the GDPR entered into force. Not all data breaches have

to be notified, only the [ones] where there is a risk or high risk for the data subjects… A bit more than 60% of the breaches are linked to user mistakes.

About 25% of them are breaches linked to hacking.

Often, people who have access to financial data, or to the possibility to perform payments, are targets.

There was a record issuance of fines in 2021 [including a €746m fine for Amazon]. Do you envision a stricter agenda heading into 2022?

Well, that’s a question I cannot answer personally… What I can say is that we will continue business as usual for the moment… There are several factors that could trigger an investigation. If you receive a complaint, it could trigger an investigation--it doesn’t mean that, if we received a complaint, there is an investigation… Or if we receive a group of complaints for a specific company, this could also trigger an investigation. We can choose to perform a campaign on a specific topic, which was already done by the CNPD in the last years. And also, as commissioners, we can propose to open an investigation for a specific matter or company, if there’s a need to do it.

Could you talk about some of the challenges that are coming for the CNPD? Linked to AI, for example?

Of course, there [are] a lot of new regulations that are coming… you mentioned AI regulation, there are all these data governance and the [Digital] Services Act and [Digital] Markets Act. Indeed, all these regulations will generate a lot of new potential missions for us [and increase] the work we have…

Herrmann joined the CNPD in 2012

Interview NATALIE A. GERHARDSTEIN Photo GUY WOLFF

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Ristretto #Finance

DECEMBER 2021

10

“It’s an alternative that we want to exploit” Distributed ledger technology, better known as the blockchain, could reshape post-trade settlement and custody services. Philippe Seyll, CEO of Clearstream Banking, talks about tackling the transformation.

Which parts of your business can be switched to DLT? Gradually a large part. I don’t anticipate it to be an overnight switch. Why do I believe that gradually it will be a large part? Because DLT is the future of dematerialisation. The world we live in, the world of securities and cash industry, is moving from banknotes into electronic money.

Because we glue [together] the different constituencies and we are a bank. So we build trust. You know, we’re regulated as a bank, right?

Which means that we provide new technology within a regulated environment, which is very important, because here we’re talking about money. If you order shoes and you don’t get them, it’s okay. If your pension money disappears, it’s a different story. And we are in the pension money [business], we safeguard the pension money.

If you look five to ten years into the future, how much of your business will be based on DLT? A large part.

And not everything will switch to the blockchain?

We don’t want to put all our eggs into the DLT basket. We like the technology, we believe in the technology. We want to accompany the development of the technology, but we are cautiously supportive of technology. And we enter into it in a very cautious, but determined, manner.

What does ‘a large part’ mean?

The most important part of our business.

More than 50%?

More than 50%. [DLT means that] if nodes that use blockchain technology, if the nodes are in a private or a public setup, if the nodes that are supposed to confirm that this investor has that number of units on his book, if all the nodes agree upon that, once and for all, it’s recorded in the DNA of the blockchain, and is the truth. So there’s a tension between those who will [and will not], going forward, provide what is an opportunity offered by blockchain-slash-DLT to propose an alternative, and it’s an alternative that we at Clearstream want to exploit or to help partners to benefit from.

So your customers will have a choice for a very long time if they want traditional systems?

It’s a good question. Yes and no, because we could well use DLT internally and not change the interface with the client. But of course, we can extend it... one of the reasons why we want to extend [it] is because the technology [some] clients use is DLT-based.

So we could [either] do our own DLT for our own sake--cost, efficiency, time to market, speed, immutability, error reduction, cost reduction, and so on and so forth--and not make it obvious to the clients. But the moment clients want to have a peer-topeer application or link their nodes or their DLT to ours, we have nothing against opening up.

If the ledger is distributed, why do we need to use Clearstream services?

Because Clearstream provides the technology, as well as the safety that those participants need.

I believe that the immediate future of DLT solutions will go through private networks of participants, i.e., that’s groups of nodes.

So participants in DLT will have to be approved by the community themselves.

So you’re turning into more of a platform or an app store?

Kind of, but we provide more than the app store.

Philippe Seyll has worked at Clearstream since 2005

Interview AARON GRUNWALD Photo MATIC ZORMAN

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Ristretto #Culture

DECEMBER 2021

12

“People don’t tend to drink sake with non-Japanese food” Director and sake educator at Luxembourg’s Sake Sommelier Academy Yves-Martin Boisclair talks about the evolution in local sake availabilities, misconceptions about the drink and tasting tips.

Could you tell us about the classes at the Sake Sommelier Academy?

The SSA has been around for 20 years or so.

We are one of the main sake education providers outside of Japan, maybe even the first one that [has] a critical mass of graduates…

We offer two classes. The first one is the intro class [open] to anyone…

We learn about the history of sake, the culture behind it, the production [and] do a sake pairing with local food to give a different [perspective] to the participants--like how ham or salami actually works with sake.

We also have a certified sake sommelier level for people who want to make a job out of it, work in a restaurant [or] retail… we are seeing a bit of an uptick in this kind of demand going forward.

because they [have] the assumption that it is actually a distilled product…

People don’t usually tend to drink sake with non-Japanese food. They have that reflex of sushisake. But when they try it with dried tomatoes, for example, they realise it can match with lasagna… People are surprised when they experience adding umami-rich sake with umami-rich foods--like tomatoes, asparagus, truffles--people are actually surprised by the combination.

Are there any general tasting tips you can provide?

Sake, like some wines, can be drunk at different temperatures. And then it starts to be a bit complex, but if you see on the label something like daiginjo or ginjo, which is the quality of the sake, based on the polishing ratio, those should be drunk a bit colder, so between 5°C to 20°C, maximum. You’ll have lots of aromas, you will tend to get it with something that is not too flavourful, maybe tomatoes, not heavy meats… the flavours of the sake will be balanced out…

But if you go with something a bit more like honjozo or junmai sake, depending on the polishing ratio again, if you warm it up a bit, it can go with more oily foods, like carpaccio with olive oil on it…

Where did your own personal interest in sake come from?

I have a sake-loving [Japanese] father-in-law.

It’s a family thing… In Japan, I tasted new sakes on new occasions, business-related activities… when I arrived in Luxembourg last year, I realised that the sake market is there but not that developed, and the best way to promote the product was through education…

Sake is a very normal alcohol, [but] it’s quite complex… You can mix the yeast, you can mix the rice, you can change many things in the process. So, I realised, why not try to promote it? And it’s gaining in popularity…

Can you tell us one thing that might surprise people about sake?

Many people think that sake is a distilled alcohol--[e.g.], like vodka--which is not the case. It’s fermented. It’s more like wine in terms of process… There’s no sugar in rice, so they have to do another step before the starch becomes sugar, and then sugar [becomes] alcohol. Also, when we tell them the alcohol percentage is around 15%, people are surprised because [they] thought it was 40%

Have you noticed a development in the world of sake taking place in Luxembourg?

Oh, yes! Last year, there was maybe one big importer of sake, and it was not available in supermarkets, or in very limited quantity.

Now I see dedicated refrigerators in supermarkets in Luxembourg… it’s evolving, there are more points of entry… We’re trying to diversify the offer of supply in Luxembourg. People are eager to discover new things.

Boisclair arrived in Luxembourg in 2020 after spending over 15 years in Japan

Interview NATALIE A. GERHARDSTEIN Photo ROMAIN GAMBA

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Dashboard #Indicators

14

€5.6trn

INFLATION RATES Source

Statec

Total net assets in Luxembourg-domiciled investment funds at the end of September, a drop of 0.81% compared to the end of August.

3.0

Source

Financial Sector Supervisory Commission (CSSF)

-4

2.5

1.93% 1.62%

1.5

1.0

Luxembourg’s consumer confidence indicator fell from -2 in September to -4 in October.

0.5

Source

Feb.

Mar.

Apr.

May

2018

Jun.

Jul.

2019

Aug.

2020

Sep.

Oct.

Nov.

Dec.

2021

WINE VARIETALS

Tonnes of electronic devices thrown out

by Luxembourg residents in 2019, down from 6,191 tonnes in 2016.

Percent of total Luxembourg wine-growing area† by grape varieties planted.

Source

Wine Institute (IVV)

1990

Source Carole Dieschbourg, environment minister (déi Gréng)

2000 5%

1%

33%

43%

2010

8%

2020

27%

22%

10%

Rivaner

Pinot blanc

Pinot gris Auxerrois

Riesling Pinot noir

Elbling Chardonnay Others‡

“ Service providers, and especially exchanges, have a crucial role to play in accelerating the transition to a lowcarbon and more inclusive economy.”

Julie Becker The Luxembourg Stock Exchange CEO announcing the bourse had joined the Net Zero Financial Service Providers Alliance, which is targeting global net zero greenhouse gas emissions by 2050.

Matic Zorman (archives)

Jan.

Luxembourg Central Bank (BCL)

6,018

0

Photo

2.0

†Figures are rounded, ‡Including muscat, early pinot noir, gewürztraminer, sylvaner and additional varieties

DECEMBER 2021

Annual inflation rate compared to the same month of the previous year, in %. Highlighted months indicate indexation (automatic pay and pension rises).

15

EMPLOYMENT BY SECTOR

BANK EMPLOYMENT

The wholesale, transport & hospitality sectors have represented the largest number of jobs** in Luxembourg over the past decade: 22% of the total earlier this year and 28% in 2012.

The size of Luxembourg’s banking workforce* has remained steady for the past five years.

Source

Statec

Luxembourg Central Bank (BCL)

DECEMBER 2021

Source

27,000

2012

26,638

2013 2014 26,000

2015 2016 2017

Q3 2020 Q4 2020 Q1 2021 Q2 2021

Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020

26,030

*Total employment at end of quarter

2018

2019

POSTAL DELIVERIES Domestic traffic handled by Luxembourg’s postal service.

2020

Source

Luxembourg Regulatory Institute (ILR)

2021

116,894,282

150m 0

100,000

200,000

300,000

400,000

500,000

Industry

Financial services

Construction

Specialised activities

Wholesale, transportation & hospitality

Administrative & support services

Information & communication

Other activities

1m

858,399

120m

800k

90m

600k

60m

400k

LETTERS

30m

**End of second quarter of each year; seasonally adjusted

PARCELS

200k 0

0

GOVERNMENT DEBT Consolidated gross debt, selection of euro area countries, percentage of GDP.

150

Q

Q

2

20

21

20 2

20

20 2

50

19.6

8.6

21 20 2 Q

20 2

2

20

19 Q

Q

2

20

21

20 20 2

20

19

18

20

0

20 2

19

18 20 100

26.2

21.2

50

Q

Q

2

20

21

20 20 2 Q

Q

2

20

19

18

Q

Q

Q

2

2

20

21

20 20

19 20

150

0

20 2 Q

Q

2

20

21

20 20 2 Q

Q

2

20

19

18 20

2

Q

Q 59.1

0

0

150 100

50

62.4

200

Q

100

20

21 2

2

20 2 Q

Q

20

19 20 2

2 Q

68.0

ESTONIA

250

200

Q

50

LUXEMBOURG

250

150 69.7

100

2

IRELAND

250 200

150

Q

20

21 20 2 Q

Q

Q

2

2

20

19 20

20 2 Q

GERMANY

250

87.0

0

2

0

98.3

50

Q

0

98.6

18

0

20

50

18

50

20

50

18

100

150 100

100

100

200

114.6

18

135.9

20

156.3

150

EURO AREA

250 200

2

181.3

150

FRANCE

250 200

2

ITALY

250 200

Q

207.2

Q

GREECE

250 200

Eurostat

Q

Source

Conversation

Luxembourg’s youngest mayor, Eric Thill, outside the town hall in Schieren

Conversation Eric Thill

“Decentralisation is very important” The youngest mayor in the grand duchy, the DP leader of Schieren council Eric Thill talks about the future of the Nordstad, the need for decentralisation and debunking the myth that the region has a reputation for being conservative.

Interview DUNCAN ROBERTS Photo GUY WOLFF

The Nordstad is a familiar term, but can you explain how this collaboration between the communes works in practical terms?

The intercommunal syndicate consists of six communes: Schieren, Ettelbruck, Diekirch, Erpeldange, Bettendorf and Colmar-Berg. We have been working together for decades to create and advance a third development area in the grand duchy, alongside the capital city and Belval.

This is being done through urban development, economic advancement, as well as developing leisure, culture and tourism in the region. For example, we have developed the Fridhaff industrial estate just outside Diekirch, we have the Nordstad bus.

And we also promote the area to the outside world, which includes the publication of Hex magazine [published for the Nordstad by Maison Moderne].

An important partner in all this is the ministry for [energy and] spatial planning--we have a very good working relationship with Claude Turmes.

There are now plans for a more formal fusion…

Yes, in 2018 we decided the time might be ripe to make this cooperation more concrete, and we started thinking about the possibility of a fusion of the communes. Votes were held in all six local councils to decide whether to formally examine the idea further--not on an

actual fusion--and, for whatever reason, Colmar-Berg decided it did not want to sit at the table for these discussions.

But the other five communes have, since the beginning of 2019, been exploring the idea of whether a formal fusion makes sense. We are looking at the financial aspect, what are the requirements, what sort of projects we imagine a new commune could undertake. The idea of a fusion would be, as it has been in other cases, to work more efficiently, to have more manpower, to better serve our citizens…

ERIC THILL SELECTED CV 2014-2017 University of Luxembourg – Bachelor in business administration/ applied management 2018 University of Luxembourg – Master in European governance 2017 ANDRisk – risk and compliance analyst 2017-2019 Alderman, commune of Schieren 2019-present Mayor, commune of Schieren 2020-present Parliamentary attaché, DP parliamentary group

Personally, I must say, the idea of a fusion only makes sense if the Nordstad concept has the full support of the people. We can’t dictate from above, but we have to involve the people in the discussions and take into account their ideas, their suggestions.

Of course, during covid-19 times it has not been easy, but we have managed to achieve what we set out to do. We had workshops, what we called citizen forums, in the five different communes. In addition, we created a citizens’ council, made up of representatives voted onto the council from all five communes, which has been working on the proposals made at the workshops.

The local council executives themselves have also been taking part in workshops so that they are kept up to date with progress.

But a referendum planned for 2022 to greenlight the fusion looks like being delayed. Why? The idea originally was to hold a referendum around one year before the next local elections, which are scheduled for June 2023. For me, that was a very sporty schedule, very ambitious planning. It involves five communes and at least 25,000 people… it’s very complex. And then we had covid, which meant the communes not only had other priorities but also had less manpower through remote working or sickness or special

DECEMBER 2021

17

Conversation

18

DECEMBER 2021

NORDSTAD FIGURES leave. So adhering to the planning schedule became even more difficult.

In addition, we sent a letter to the minister of the interior, Taina Bofferding, and other ministries to get a concrete answer regarding financial support and also plans for CGDIS [emergency rescue service] centre in Fridhaff. Of course, because of the pandemic, the government also had its own crisis management and other financial priorities, and then the flooding also added to the problem.

But it is important that we get an answer in the next few weeks, and from what I could tell from discussions in parliament and from an answer to a question from [Ettelbruck mayor and CSV deputy] JeanPaul Schaaf, the minister is in the process of working something out.

But even though Claude Turmes has said we will soon also get an answer regarding CGDIS, it is looking less likely that we can meet the target of June 2022 for the referendum.

But if the referendum is passed, what are the next steps in the process to fusion?

Then we have to work with the ministry of the interior and the appropriate parliamentary committees on draft legislation, which then has to be passed by the Chamber of Deputies.

There are still questions that need answering apart from the financial aspect.

How many seats will the new council have, where will it be headquartered… there are lots of things that have not yet been defined.

“ We can’t dictate from above, but we have to involve the people in the discussions”

92km2

Combined area of the six communes of Bettendorf, Colmar-Berg, Diekirch, Erpeldange, Ettelbruck and Schieren

24,934 Population of the Nordstad as of 1 January 2021

43%

Proportion of working age population employed in the Nordstad

I am a young person who is 100% behind the Nordstad, but I have to say, we can’t rush headlong into this. I would rather we take a few extra months to prepare everything calmly, present the project properly and then find a correct solution together with the people.

The problem is we have very little idea of what the people are feeling--whether they have a positive or negative view of the fusion--because we haven’t had so much contact due to the pandemic.

If the referendum fails, then, in my opinion, a Nordstad fusion will have to be laid on ice for the next few decades.

The industrial zone is creating jobs.

We have had the extension of the motorway that has improved quality of life in the region.

43% of Nordstad residents also work there. What are the economic strengths of the region?

I think that living and working here is great for quality of life. Our location has several advantages. We have plenty of nature, excellent connections to the capital city, whether that is by public transport or by car--you can be in Kirchberg in 20 minutes.

The Fridhaff activity zone is proving to be a big draw and we are working on plans to expand it as it has already reached capacity. The spaces were taken up so quickly that it shows that the Nordstad really is an attractive location for businesses, but also for residents.

We are close to the Alzette and Sûre rivers, we have plenty of nice countryside walks and cycle paths. We have infrastructure--the hospital in Ettelbruck, high schools, shopping streets in Diekirch and Ettelbruck, culture venues like the CAPE, museums, sports facilities, cafés, restaurants. There is a lot we can offer in a relatively small and rural area.

Is the attraction of the north for people who still work in the capital city growing because of lower housing prices and the increase in remote working?

I have to say, housing prices have increased here as well... when I started at the Schieren council at the end of 2017 the cost of It is now almost 40 years since one are [100m2] of building land was [Luxembourg economist] Adrien Ries €52,000. Now it is €80,000 per are. Nevcoined the term ‘Nordstad’. Has the ertheless, that’s still cheaper than around reputation of the north changed in the capital, and lots of people are thinkthose 40 years? ing about moving to the north.

Our idea is still to have more people Adrien Ries’ idea was to create this northern ‘pole’, and it is a vision that I, as mayor who both live and work here, so that they of Schieren, and my colleagues in the other have more time for themselves, for their communes continue to support. In fact, family and for hobbies and leisure time. the idea of the Nordstad makes even more In the sense that we don’t live to work, but we work to have a better life. sense now, perhaps, than 40 years ago.

The north, like other areas of the country, has obviously developed significantly. Xavier Bettel spoke about decentraliWe have met various challenges and now, sation in his state of the nation speech. together with the government, we have What concrete actions would you like developed the Vision Nordstad 2035, which to see the national government take includes a mobility plan and what major to make this happen? investment decisions will be taken in the Decentralisation is very important. We want to attract not only businesses, but next few years.

Eric Thill

“ We want to attract not only businesses, but why not public administrations and even ministries?”

why not public administrations and even What is the housing situation in ministries? In this respect, being the third the Nordstad? development area is important, as it gives Several projects are being worked on, dependent on the general development plans us more political weight.

We already have some examples. The that are currently being finalised. We need environment agency and the nature more housing, but that will also require and forest agency are in Diekirch, the individual communes to expand their water management authority also has development perimeters, that is obvious. an annex here.

I mean, during the pandemic we dis- You are the youngest mayor in the covered that remote working could work grand duchy. Do you feel there are technically. That is all well and good, but enough young people entering we have to take into account the human politics and, if not, what can be aspect, having contact with your col- done to encourage more active leagues is very important. So, in the future, participation in the younger we have to find a healthy mix. We could generation? also imagine, in the age of digitalisation This is something I have been preoccuwith email and video conferences, busi- pied with recently. I think over the past nesses having satellite offices in the Nord- few years there has been an increase in stad where people could work maybe the number of young people engaging three times a week instead of having to with politics and in the local councils on top of that, we have all the planning and executives. I think it’s important to and strategy for the future. [There] just travel to the capital.

That would also contribute to fewer have more diversity in local government, isn’t enough time. cars on the road, ease traffic jams and so that we don’t just have pensioners--with also be good for the environment. all respect for our pensioners--sitting on You are also head of the DP’s north Decentralisation and the development the councils. We need young people and section. Ahead of the double election of coworking spaces is something that women who can bring a different per- year in 2023, what challenges does can be done fairly quickly with the right spective to the problems we face, come the party face in the region, which is investment. That would be driven by dig- up with new ideas. If we have that mix, often said to lean conservative? italisation, which is something that [min- they will represent the population.

We have a young and dynamic team that Everywhere I go, I encourage young is laying the groundwork for our election ister delegate for digitalisation] Marc Hansen is working on and that we, as the people to enter politics, because it allows strategy. We are holding workshops to you to actually make change and not just prepare concrete proposals for the chalNordstad, welcome. lenges that are specific to the north. We complain all the time.

On the other hand--and this has to be have been visiting businesses to take the said--it is not easy as a young mayor to pulse and learn about the problems they balance your job, family and hobbies with face and what we can really change.

But I think this idea that the north is managing a political mandate. We welcome the proposed reform to the com- conservative and agricultural is somemune law because the sector has evolved thing of a cliché. Of course, there is a lot NORDSTAD ECONOMY significantly over the last 15 to 20 years. of farming up here that is still important.

The 28.5ha Fridhaff intercommunal The diversity of the tasks required is mak- But it is also slowly being reduced. A lot activity zone, which is subsidised by ing the job more and more complex. So of people from the south and the centre the ministry of the economy to the tune of 85%, has attracted several we have to make the roles of mayor and have moved to the Nordstad, and that big businesses as well as small- and councillors much more attractive. has brought about some change. New medium-sized enterprises. The most There needs to be an increase in the generations and new families have come notable company to set up in Fridhaff is perhaps tobacco number of hours of ‘political leave’ that to live in the north, and I welcome that. products maker Landewyck (see is granted, to allow people more time to page 22), which has established its calmly carry out the role. We need to change And, of course, for the next local main production site in Fridhaff.

Elsewhere in the Nordstad, the procedures so that technicians and sec- elections the law has changed Goodyear Innovation Center allowing non-Luxembourgers retaries can have more responsibility.

Luxembourg in Colmar-Berg is who have not been here for more I get 16 hours of political leave a week. a significant research and development and support centre I have an executive council meeting twice than five years to vote. for the tyre company’s European a week, I have to prepare council sittings, That is an important and interesting aspect operations. In Diekirch, Brasserie de sign building permits, conduct weddings that I clearly support. And we will have Luxembourg makes Diekirch brand beers as well as Leffe, Hoegaarden and funerals, attend all sorts of other to make sure we listen to the needs of and Corona and construction general meetings. I’m also the boss of a those people, which will make the 2023 industry supplier Astron, now part team of 23 people… that is just the daily local elections interesting. But it can only of Lindab Group, is also a significant employer. business, the management aspect. But be good for democracy.

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When inheritance becomes international Sponsored content by DEGROOF PETERCAM

Since the foundation of the EU, free movement of people and globalisation, assets are no longer concentrated in a single country. What is the situation from a legal and fiscal point of view when it comes to inheritance? Interview with Florence Waûters, estate planner at Degroof Petercam.

What does “internationalisation of assets” mean in concrete terms?

Many Luxembourg residents were not born in Luxembourg or are of foreign nationality, and often have assets in their country of origin or in a foreign country in addition to assets in Luxembourg.

Their children may also have left home to live and work in another country. The result is a family estate that is spread over different jurisdictions, with the heirs sometimes far away.

For a non-Luxembourg resident, only Luxembourg property held directly will be subject to Luxembourg inheritance.

What about the heirs?

It is also important to take into account where the heirs are located, as they may also be liable for inheritance tax in their country of residence.

For example, in France, the portion of the estate that could be subject to French inheritance tax will depend on how long an heir has been resident in France at the time of the inheritance.

How does this complicate the transfer of assets?

As you can imagine, in the case of an inheritance, the legal provisions considered are those of the countries where assets are located as well as those of the countries of residence of the heirs and the deceased. From a legal point of view, the inheritance process can be complex, especially in the absence of a comprehensive overview of the geographical scope of the assets.

From a tax point of view, cases of double taxation may arise.

Beyond these economic and legal dimensions, what else should we be aware of?

Inheritance is not a simple subject to tackle, whether for both legatees and heirs. I believe that the key to a successful international transfer of wealth involves both forward planning and communication between family members and the estate planner.

Is this what you recommend to your clients?

Absolutely, I’m thinking in particular of one of our clients, Ines, whose children live abroad.

She wanted to take stock of her assets and protect them so she can pass them on to her children.

What should be taken into account?

In the case of inheritance, two main aspects must be considered: the civil aspect and the tax aspect.

The civil aspect addresses the issue of who inherits what. While each country used to have its own legislative criteria, the 2015 EU Succession Regulation has allowed for harmonisation on this point. In principle, the applicable law is that of the last country of residence of the deceased with the possibility of explicitly opting for the applicable law of the nationality of the deceased.

But what about the tax aspect?

The tax aspect addresses the question of inheritance tax. Here, no harmonisation between the different countries exists, meaning the assets concerned could be taxed in several countries.

In the case of a Luxembourg resident, the transfer of all the assets in the estate, except for real estate located abroad, will be taxed.

What services does the Bank provide in this regard?

Some of our clients have been with Degroof Petercam for a very long time. Our teams that are specially dedicated to estate planning are able to follow these family estates generation after generation and ensure they are properly passed on.

Florence Waûters offers information on how to manage an international estate

n, rmatio re info act o m r Fo cont : please ers by email t û a W e c Floren Photo SIMON VERJUS

ers@ f.waut m.lu eterca p f o o r deg

Florence advises her clients on the transfer of their assets

Thanks to her, Ines has benefited from international estate planning

Growing together

Georges Krombach, pictured here in Luxembourg-Gare, also serves as general manager, export & new generation products at Landewyck

“Get out of comfort zone” Newly elected president of the Fédération des Jeunes Dirigeants, Georges Krombach shares the genesis behind his seven biggest taboos of Luxembourg leaders, thoughts on working in the Landewyck family business and industry developments.

Interview NATALIE A. GERHARDSTEIN Photos GUY WOLFF

You were recently nominated to head up the FJD. What motivated you to seek out this role, and what do you think you bring to it?

The FJD is mostly a networking club of positive-minded people. What’s good is it’s not only about business, it’s more about the friendship and the projects.

The people you meet there are, at the end of the day, people for life. It’s a networking club, plus, plus. There is a devotion behind [it] and the Luxembourgish touch, which is sort of wining and dining, of course… But, on the other hand, we have small ways to manage the issues you have in your life… I always say [that] the FJD is a big boy scouts for grownups… it’s more about friendship, relationships.

The association gave me so much… I’m giving back. FJD is an association where if you give one, you get 10 back.

I was also away in the US for [a stint], and for me it’s a way to get back in the business world and to meet new people.

What makes life good is to meet new people, to meet amazing people--and there are many extraordinary people.

You’ve provided seven taboos for Luxembourg leaders to take into account. What was the genesis behind them?

I was working in Paris [for] five years and then in Luxembourg [for] seven years.

Your life quickly settles into a comfort zone. Then my wife got offered a grant

GEORGES KROMBACH SELECTED CV

I [was] in an American company in New York--and I recommend everybody do this. If you’re really settled in your job Fédération des Jeunes Dirigeants in Europe, unplug everything… New York Current president [is] so energy-driven and crazy, and the Landewyck Tobacco best minds of the world meet in New General manager, export & new generation product York, that’s for sure. It’s that creativity, (Jun 2020-present) business, science… So I went there and Business development manager met these businessmen in this amazing (Feb 2018-May 2020) city--and the drive there, the ambition International marketing manager they have… They all get up in the morn(May 2010-Jan 2018) ing, and they all want to be Elon Musk, Talkwalker so it’s an amazing feeling… In New York, Digital communication officer US they say, there’s a fear of the void. If you’re (Jan 2019-May 2020) not busy, you fail. If you don’t win, you L’Oreal fail… I was mesmerised, flabbergasted Product manager by this drive.

(May 2007-May 2010) At the end, we had to come back to Area manager junior Luxembourg; it was the end of the grant (Jun 2006-May 2007) for my wife… I also had this business here and promised those guys I would be back…

In New York, I went from comfort zone to learning zone… And then I came back in oncology research in New York. She’s to Luxembourg, I [thought], ’Jesus, what an oncologist MD; we have a son together. is happening here? It’s a bit sleepy, feel[She] got a brand-new research project ing well, very fine… Then I decided that in New York, MSKCC [Memorial Sloan my year would be the year [of] ambition.

Kettering Cancer Centre], one of the big- I just wanted to be ambitious. I read a lot gest research centres… So I unplugged about ambition, that it is more the quest all my stuff here--my job, my associa- to go higher, to do more. It’s not [about] tions--and I went there, took care of [our] achieving it; it’s [about] the way to go…

So I wanted to talk about ambition, kid one year, and then used my [parental leave]. So I joined Talkwalker there. That and then I discovered many other things was, I think, the best decision ever… that are a bit different in western Europe because I entered an American company. compared to the US. Then I came up with these taboos…

It was [a time of] hyper growth.

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Conversation Georges Krombach

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Illustration

preventing some change? And should days… In Luxembourg, the state spends Let’s jump into those. You talk about education be preparing young people $25,000 per student. The second one is the taboo of money, a ‘demon’ not more for real-life skills? much talked about, but one which Sweden at $12,500. So we spend more regulates our life. Should we be more …It’s a bit stuck, as you say, due to the lobby, than the second, and our Pisa results are open about money, and how so? and it’s in this comfort zone… they say they below par… nobody speaks about that.

We should be less blocked to show that will not build more ‘lycées classiques’ [acawe’ve made it. When you speak about demic high schools] because nobody goes Switching gears to your taboo money, you quickly speak about jealousy. into that. Nobody knows this, but they focused on the intersection of In Luxembourg… don’t show your money, need to build another ‘lycée technique’ business and politics: what do you which is the best way to avoid jealousy, [vocational school] every second year, so think is preventing entrepreneurs from getting more involved on the because jealousy is one of the sins, you we have an issue in my point of view.

Then you have this trend of putting political front? cannot avoid it… But I think people should understand that if somebody has people in private schools. In Luxembourg, We always shout at politicians; we need a bigger house, they’ve also worked for 11.6% of the kids are in private schools. them when something goes wrong… On it; there’s no shame…. [but] you also The trend is rather stable, but why do they the other hand, nobody wants to go to need to pay the taxes… In [many] busi- do this?… They go there because of the that position because [perhaps] they don’t nesses, it’s the social responsibility hype style of education. It’s more like real-life find it interesting… For entrepreneurs that is normally kind of a… marketing situations. Here, in public schools, you who get up in the morning and want to hype… All that is nice, but the biggest still do Greek and Latin and mathemat- change the world, it’s very tough because purpose of a company is to pay taxes. ics… nobody’s learning about project man- you have this political agenda, it’s a lot Because if you pay taxes properly, then agement, nobody is learning about the of compromises. You need to please everythe state can invest in infrastructure, Python coding, and other things that are one, from the grandma to the baby… at schools, research and hospitals. That’s used these days. So we get stuck, and I the end of the day, in Luxembourg, the very important. So earn money, and pay think it’s also a western European thing. political system is not representative anyI think public education needs to be more… the head of the Chamber of Depthe taxes for the money, and then I think more inspired by the private systems, uties is a state employee who never worked everybody’s okay. by the American ways of teaching… you in private business. The head of the ConYou mentioned education, and you’ve need to be inspired. Get out of the com- seil d’État is also a state employee. So I said it is broken. What changes would fort zone… think the system is not representative you like to see--and is the fact that I know many teachers and professors anymore of the normal population, and the teaching profession has such a [in] Luxembourg. Of course, they work not at all entrepreneurship, the driving strong lobbying voice potentially very hard. It’s a very, very tough job these force of the country. We need more will-

Belvedere Architecture

The iconic Hollerichbased Heintz van Landewyck building, dating from 1937, is undergoing a transformation for the development of the new 6ha Parc Landewyck district

Georges Krombach

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ingness, more [getting] out of the comfort zone--also for business people--and maybe have kind of a part or smaller seats in the parliament or ministry groups where we can be part of the system or part of the discussion papers, maybe behind-thescenes tables to give some input. But, of course, you need people to do that…

It’s also a very personal thing. I mean, [in] the US, you often see that big businessmen join politics or get a seat in the House… In the US, I think it’s more a question of honour…

It’s also [about] the political ecosystem, to sell this more as an honourable position…

You represent the sixth generation of Landewyck. Can you talk about the challenges of being part of a familyowned business?

It’s a very special blend of business and emotion. [In] normal businesses, you leave the business at 6[pm], and you go home for the emotion stuff. Here, it’s more 25/7, business and emotions, which can be a very dangerous mix…

I think it’s the most rewarding kind of business you can work in because you’re just a passenger on the train… You have to [make it] grow. You are the gardener in the garden, and you need to make the garden more beautiful… That’s a challenge… That’s a big mission we have as family members in the family business, to plant the next tree for the next generations. And that’s a nice challenge… but you need to give back…

Do you think smoking is taboo? And where do you see the future of tobacco, given your line of business?

Are there plans to diversify further?

Tobacco is a schizophrenic product. Why? Because the narrative is, of course, that tobacco is bad. But the reality is that tobacco pays a lot of things for society.

You should never forget, you have the ministry of health--they hate us, of course-but the ministry of finance, they love us.

So one puts up the barbed wire, the other one the red carpet…

So, for us, it’s very confusing. Behind the scenes, it’s very fun to see this… When you are in this business, you have a total distance to this narrative. For us, tobacco is a sixth generation, [my distant multiple-great-]grandfather opened it as a small shop… now it’s an industry. But we

Krombach’s FJD action plan for the 2021-22 fiscal year focuses on these seven taboos, in his own words:

Ambition This intrinsic force to go further, higher--a force which is hardly appreciated in the grand duchy

Money This demon that we dare not talk about or show, but which rules our life

Education A vector of transmission of knowledge which is broken down, according to our Pisa results

Diversity This speed which is still lacking in our companies, but which could federate innovation, growth... and atmosphere

International Because our country has not been an export champion for some time

Failure Out of favour, but actually a necessary step in every learning and innovation process

Politics Entrepreneurship is poorly represented in the Chamber of Deputies, but no one from entrepreneurship feels concerned to enter it

still have the same passion for the product, tobacco. That’s one thing. And the other thing, if somebody smokes a cigar, he’s a connoisseur, but if you smoke a cigarette, you’re a criminal… There’s a lot of pressure, and we don’t like this stigmatising society… We have a passion for tobacco, passion for cigarettes…

Tobacco has been around since over 2,000 or 3,000 years… and it will still be around in the next centuries… Everybody wants a moment of indulgence. Maybe you have a drink, or you smoke; you love chocolate, or you love tea…

Diversification is, of course, a very big word. It’s also a dangerous one. You should not diversify because the stock exchange wants it; you should diversify because you believe in your product. And we believe in nicotine. We are working on very interesting projects. We did a nicotine ecosystem, working on very interesting projects with nicotine delivery devices….

We are [also] working on some products, on CBD products together with Austrian partners that are getting the source leaf, but we are, of course, very disappointed by what happened with the cannabis [law]… That, for us, is a failure to state, a complete failure… It’s the green elephant in the room.

You chose the Fridhaff industrial zone in the north as the site of your new production facility. How is this going, and when do you expect it should it be fully operational?

We invested €80m in this new facility…

We always wanted to stay in Luxembourg, to support the Luxembourg industry.

We’ll celebrate 175 years next year… we are a strong believer in Luxembourg industry and the ecosystem, the economy here… The facility is 95% operational… in January 2022, we will be 100% operational. It’s a big success.

Can you talk a bit about the development of the Parc Landewyck office and housing estate in Hollerich?

We founded a real estate company in 2012 called Landimmo. We do this [project] together with Paul Wurth; we founded a GIE [economic interest group] on a temporary basis, and together we will develop and turn this industrial land into housing, commercial and offices. 50% of everything will be housing. It’s also, for us, very important that we provide

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THE SEVEN BIGGEST TABOOS OF LUXEMBOURG LEADERS

Conversation Georges Krombach

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housing because there is a housing crisis in Luxembourg… We wanted to provide housing to the country which is in deep need for that. At the end, there will be 400,000 m2 built. The building works start in 2023. There will be a public park, that will be the gem of this whole project… We’re now redoing the building; it will be delivered in the second half of next year, that’s 5,000 m2, [with an] industrial look, concrete ceilings and floors…

We [also] have this project in Ettelbruck, there [was] this factory that was torn down, and they’re building this Ettelbruck One building. That’s 17,000 m2 of office building…

You’ve spent some of your career in the US and Paris. Could you talk a bit about how those experiences further shaped your outlook as a business leader in Luxembourg?

I got more of this can-do attitude that the Americans have because they need to have it. I think inequality in the US is unbelievable. If you go to Harlem [New York], what you see there shocks you for life. The guys you see there, they have nothing…

It’s such an unequal society in the US. It’s so hard to survive, but I think that makes them so hardworking and positive, and this positive way to get up in the morning…get it done, and this can-do [attitude], and even with nothing. They fake it ’til they make it. It’s an attitude. Also how they speak… It’s a lot of hot air, but the way they present, convince you, how they speak, rhetoric--and that’s also something for education. I think we need to have rhetoric classes--how you speak, how you convince people, how you sell your stuff.

Jesus, I was impressed. That’s also stage appearance, how you sell yourself. There, everybody has their own personality… In Europe, we have 550m [population]. Normally, we should come up with better ideas. If you do the math… If the Americans want to launch a new product, a new brand, a new service, etc., they do it loudly.

And that’s something that was a big inspiration for me, and I want and do this on a daily basis, give this can-do attitude, and speak clearly and think, ‘Go out there, and be great,’ [as] they say. That’s an attitude I took in my backpack, and I want to apply [it] every day. I also want to do that with the FJD. Positive change takes a while.

Krombach’s outlook has been strongly influenced by his experiences abroad

“ In New York, they say, there’s a fear of the void…

I was mesmerised, flabbergasted by this drive”

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A label for Luxembourg

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150 1 Ambassadors for

Luxembourg

A closer look at the Made in Luxembourg label p. 32 125 companies

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More than 90,000 companies are members of the Chamber of Commerce and the Chamber of Skilled Trades and Crafts, but what does it take to go from being a business to being a brand?

From the right name to customer excellence, it takes work to become beloved by clients.

2 What’s in a name?

Building a successful brand p. 34

Meeting customer expectations 3

Top local brands for customer satisfaction

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LABELS AWARDED ANNUALLY Between 1984 and 2013, the Made in Luxembourg label was awarded to 501 companies. The chambers of commerce and skilled trades and crafts in 2014 consolidated their communication around the label, seeing a rise in requests, also boosted by the pandemic.

Source Luxembourg Chamber of Commerce, Chamber of Skilled Trades and Crafts

hamber of Commerce C Chamber of Skilled Trades and Crafts

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Ambassadors for Luxembourg sense of nobility, especially in countries where royal families still carry clout.

Elke Hartmann, Edith Stein

of sun but also a lot of dust and sand that reduces productivity.

“Made in Luxembourg, for me, is rich and diverse,” said Hartmann, who also helps companies at the Chamber of Skilled Trades and Crafts with internationalisation. “The feedback from businesses is a “It is becoming more and more relevant,” sense of exclusivity abroad,” she said of said Elke Hartmann of the Chamber of the label. Part of that comes from the logo, Skilled Trades and Crafts. “Even though the two women agreed. With a crown at it is not a quality label but an origin label, its centre, the label suggests a certain customers associate quality with it.” Still, businesses need to show that they are worthy, not only by producing in the country but also by delivering on soft criteria, such as staff initiatives or comTHE MADE IN LUXEMBOURG munity engagement.

LABEL “We regularly receive requests for design, but the production is abroad, because it is too expensive in Luxembourg or there aren’t enough seamstresses.

That doesn’t work. For IT companies, too, development needs to happen in Year the label was founded Luxembourg,” said Edith Stein of the Chamber of Commerce.

1984

Rich and diverse The pair over the years have discovered surprising businesses. “We visited someone who makes waffle irons,” said Hartmann, who also encountered glaziers specialised in restoring and conserving church windows. But it’s also innovative companies who are seeking the label, such as a space firm making robotic arms or a business producing robots that clean solar panels. These have found a market in the Middle East where there is plenty

1,500

Companies currently holding the label

134

Labels awarded in 2021 Source Luxembourg Chamber of Commerce and the Chamber of Skilled Trades and Crafts

Sense of sustainability The label works with Luxembourg’s nation branding project, but the stamp isn’t only interesting for foreign markets. More and more companies in the food industry are requesting the label, Stein said, and there is also an emerging local ecosystem of brands working together, of businesses in Luxembourg finding local suppliers and partners through the Made in Luxembourg platform.

“What we are noticing is that companies are really trying to produce more sustainably,” said Stein, also amid a growing awareness among customers.

“We are always reviewing the criteria,” said Hartmann. “Something like sustainability could absolutely fall under the soft criteria.”

During the pandemic year, the number of requests from companies to receive the label increased. It is awarded for a period of five years at the end of which a thorough review whether the business meets current criteria takes place. For example, the chambers in 2019 decided to no longer award the label to real estate agencies. Any agency that received the label before 2019 will lose it over the coming years.

The label is a boost for small businesses that don’t always have the resources for marketing campaigns or the tools to tell their stories. In the trades and crafts sector there are 1.4 foreign competitors for every local business, Hartmann said. A Made in Luxembourg label can make a difference.

“It’s proximity, it’s reliability, it’s trust. It’s something familiar,” Hartmann said.

Words CORDULA SCHNUER

Chamber of Commerce, Chamber of Skilled Trades and Crafts

Around 1,500 businesses carry the Made in Luxembourg label, which is seeing a rise in popularity in the wake of the pandemic and as customers are looking for more local and sustainable products and services.

Photos

DECEMBER 2021

Label

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34

Brands we love

Business report

2 Branding

Pranjul Shah, Patrick Ernzer

When it comes to logos, not only the symbol but also colours play a big role.

“We are so colour-coded as people. We associate different feelings with different colours,” said Shah. Green, for example, is associated with sustainability and the “Entrepreneurs should think about their environment. Yellow and orange are more brand right from the start,” said Patrick social, Shah added, while blue is energetic.

Ernzer, director of communication at the Luxembourg Chamber of Commerce, Being genuine adding that it will be difficult to compete But there is also hope for those who get if you run a no-name enterprise. “With- it wrong the first time around. When only out a brand, you don’t exist in the mind 50 to 100 people know about your brand, of the customer.” it’s easy enough to rethink the name and Being connected with consumers is also key. “The customer decides whether your brand becomes a hit or a flop. The question you have to answer is, ‘How do I build a brand that customers will connect with?’ Customers become real THE UNIVERSITY OF ambassadors for your brand,” he said. A LUXEMBOURG INCUBATOR recognisable but also simple name and logo are essential, but entrepreneurs must get to the essence of what they stand for. “Branding is about so much more than a pretty name, a logo and a nice slogan.”

Year the incubator was founded That first step, finding a name, however, is becoming increasingly complicated. “Most common nouns and names have already been used. There’s only one Apple.” Finding a name that works in multiple languages and cultural contexts Startups created is even more difficult. But budding business owners also simply forget to check whether the domain name for their chosen company title is still available, said Pranjul Shah, the head of the University of Luxembourg’s incubator, who works Students exposed to entrepreneurship with aspiring entrepreneurs.

2018

visual identity. “Every project we work with changes,” Shah said, from changing the name to the logo or even going deeper to rethinking the entire premise.

“You have to be genuine; you have to embody your beliefs,” said Ernzer. “One of the biggest mistakes you can make is to underestimate your customers. They can tell if you are fully invested in your beliefs, your values and goals.” If this might seem daunting, it’s not undoable.

“It’s possible for a new challenger to be successful, even in a highly competitive and overcrowded market segment. You can be faster, closer to your audience.

You can aim for a niche market that has the potential to evolve into a mass market,” the communications director said.

“Branding is very much ingrained in the whole process of building the company,” said Shah, adding that the incubator pushes its young entrepreneurs to go out and speak with potential customers on a regular basis. “It’s about keeping this dialogue alive and understanding how your brand value is built.”

This is also important as trends change.

One of the young brands is trying to turn kombucha into sustainable leather, for example. GoldenMe, on the other hand, is a digital inclusion social enterprise for elderly users. “Zennials are all about sustainability,” said Shah.

40+

2,200

Words CORDULA SCHNUER

Chamber of Commerce, University of Luxembourg

While a cactus does not conjure up images of shopping, the Luxembourg brand has become something of an icon.

The space for young entrepreneurs is getting narrower, but challenging the big players is not impossible.

Photos

DECEMBER 2021

What’s in a name?

IGN S E D W E N

PUB VENDUE LUXLAIT

36

Brands we love

Business report

3

Meeting customer expectations Fernand Ernster

People have emerged from the pandemic with new priorities, Ernster said, including where and how they spend their money. “It’s interesting, because a customer who complains is interested in you doing something about it, to satisfy them but also so that this doesn’t happen again next time they visit.”

Ernster said customers want to stick with their local suppliers but, in return, demand good service.

Founded in 1889 in the capital, the bookseller recently opened its tenth shop in the country. “People were really happy to return to real shops,” Ernster said of the end of lockdown, adding that the company’s online trade would never replace its “brick-and-mortar” stores.

“I was surprised that we were being considered as a brand,” said Fernand Ernster, who leads the family business, recalling the publication of the first report in 2018. “We are an old business; we have a certain name, but because I carry the name myself, I never had this perception of the brand.”

The bookseller ranked at the top of the first two editions of the survey, slipping into third place in 2020 and 2021, overtaken by banks and insurance companies. An unnamed “leading online retailer” scored 10th and this despite the rise of A universe of books online shopping during the pandemic.

When the company moved into the Belle Ernster, too, offers an online shop, Etoile shopping centre in 1988, it was which gained in popularity last year. Peo- obligated to advertise, a novelty for the ple who already had an account with the business at the time. “Today, we are a shop switched to digital, for example. brand,” said Ernster, the result of a pro“There is a risk with a company that is this cess that has seen the company review old that it starts gathering dust,” Ernster its visual identity and adopt the slogan said. “We managed to stay on the ball.” “L’esprit livre”, the spirit of books.

This spirit aims to offer everything Customer priorities that is connected to books, from the proWhile customers cut companies some cess of writing--with the company also slack because of the pandemic, KPMG selling stationery--to the books themsaid in its report they have since “revert- selves but also “the worlds that you delve ed to their initial pre-covid high expec- into,” Ernster said. “It’s a universe.” tations.” Across the board, the nine sectors Delving into the e-book market, howof the economy assessed performed less ever, is a challenge for the business. well in this year’s survey compared to The popular Tolino e-book reader--available from booksellers in Germany, last year.

Austria, Switzerland, Belgium, the Netherlands and Italy--doesn’t work in Luxembourg for licencing reasons, and the country faces similar issues with options available in France or Belgium.

But paper books have also held a special appeal since the pandemic, Ernster has found. “People have had to spend so much time on their screens. What is better than a book for a digital detox?”

Words CORDULA SCHNUER

TOP 10 BRANDS FOR CUSTOMER EXPERIENCE Source

2021 KPMG Luxembourg Customer Experience Excellence Report

1

Banque Raiffeisen 2

Spuerkeess 3

Ernster 4

Nespresso 5

Luxair Tours 6

Foyer 7

Lalux 8

Colruyt 9

Lineheart 10

Leading online retailer

Edouard Olszewski

In an annual KPMG report on top local brands for customer experience, Luxembourg bookstore chain Ernster consistently places among the top players in the country even if its general manager long didn’t think of the family name as a brand.

Photo

DECEMBER 2021

Service

SHARING MOMENTS Crémants POLL-FABAIRE Quality Crémants exclusively grown and produced in Luxembourg's Moselle region since 1991 pollfabaire.lu

pollfabaire

A Domaines Vinsmoselle brand - Alcohol abuse is dangerous for your health, drink in moderation

PUB VENDUE DOMAINE VINS MOSELLE

Head to head

38

Year one of Joe Biden’s presidency Roughly a year after Joe Biden became the 46th US president, Democrats and Republicans abroad take stock.

Natalie Bachiri is the chair of the Democrats Abroad in Luxembourg.

Is Joe Biden the president you expected him to be?

NATALIE BACHIRI It’s great to have a president again whom we can be proud of-his integrity, compassion and experience.

I had high expectations that he would help restore America’s place of democracy at home and in the world. He’s working every day to help the people have a better life in America with the Build Back America initiative. He has also achieved a better alliance, working with more of those around the world.

FREDERIC BECKER He’s the president I expected, but my expectations were quite low. For me, there are too many things which are ideologically driven.

Everything from the Trump administration had to be removed, for example the [Keystone XL] pipeline. The first task of the president is to protect the people of the country and, in my eyes, he’s not doing that, also in his foreign policy and the concessions he’s making.

NB When other presidents came into office, they didn’t have all these horrible things to deal with. President Biden is doing the best he can. Covid came in.

There are other issues, like the economy, people not having work, healthcare. And, also, there was the divide among people for the last four years because of Trump.

“ President Biden is doing the best he can”

FB This division has been going on since long before the Trump administration.

No president has really managed to bring Republicans and Democrats together, but Joe Biden came in and said he would do exactly that. And he has not, not at all.

In terms of promises made during the election, what do you think he has delivered on?

FB There is a checklist of the promises he made and, currently, 12% have been delivered, like re-joining the World Health Organization, the Paris Agreement. Other things are still in Congress and have to go to the Senate. But it’s not only a question of delivering what was promised, it’s about putting in question whether those promises are good for the American people. That’s something else.

NB There are many things he, as the president, and the Democratic party want to do for the people, to build back the nation. Part of this is working with Congress, where Democrats and Republicans should be working together to pass bills to help the people. But for some reason, Republicans have been stopping bills over the years. He’s pledged to help the American middle class recover after many years of neglect, both in terms of social policies and large-scale bipartisan infrastructure bills he’s putting into place. He wants to fulfil that pledge, but until it goes through Congress, he won’t be able to.

FB Roads and bridges don’t create wealth, they distribute wealth. But somebody also has to pay for all of it. For example, the tobacco tax. Poor people smoke and now tobacco tax should double, hitting people who already don’t have much. We have a problem with energy prices. Why stop the pipeline? Now we have to import oil from the Middle East and gas prices are rising. That could have been avoided.

But we have a system of checks and balances and I’m confident they will negotiate something useful.

Politics

Sticking with the spending bill.

There is some disagreement within the party, for example from the Democrat senator for West Virginia, Joe Manchin. What’s at stake?

NB Unlike the Republicans, the Democrats have different parts. They have moderates, progressives. All of them sit down, they talk and try to find the best way to pass this bill. It’s not a single person with a single vision, but ideological diversity.

What we have seen over the last couple of days is that the Democratic party has come together and is ready to move forward. There are so many pieces in there that will help the American people and the American economy.

FB In the end, it will be a bipartisan decision. You fight for the best arguments and, in the end, you have to find a compromise. Let’s hope it’s a good one for the United States. But ultimately, wealth is created by the working people, not by the government, and we’ll have to see about that.

Moving on from this domestic issue, EU leaders have been vocal about welcoming the US back to the negotiating table. What is the standing of the US under Biden, compared to Trump?

NB The Biden administration is working on the Build Back Better World initiative, which included the G-7 this summer. He’s launching a bold new global infrastructure initiative. Also, with the Paris Agreement, he’s been much more of a figure in the world, bringing back alliances with other countries which had stopped over the last four years. At the global climate summit, countries pledged to reduce methane emissions and end deforestation, and he’s in front of that.

FB Europeans see it a bit differently. There aren’t that many changes, only he says things with a smile. The packaging is different, compared to former president Trump. When we are talking about climate change, not all Republicans are the same. President Trump said climate change is a hoax. No, I don’t consider it a hoax.

For thousands of years, the climate has changed. But all these [climate] models are based on highly complex differential equations. The problem is that these equations aren’t very robust. What annoys me is that science was always based on thesis-antithesis. But we are now at a point

39

“ My expectations were quite low”

where, as soon as you question something, you are called a climate change denier.

Looking ahead at the 2022 mid-term elections, what challenges do the parties face?

NB It’s complicated. Similar to the presidential election, you have a lot of propaganda out there, pushing people to go a certain way. It’s all about keeping the seats you have in the Senate and in Congress.

Ideally, when you have two people running for office, they’ll tell you the truth about what they’re doing. Democrats sit down and say, ‘here’s my agenda’. For the Republican party it’s more about saying, ‘I want to be in power’.

FB A lot of what the Democrats are doing is purely ideologically driven. But people have real concerns. And the success we have now with [Glenn] Youngkin in Virginia is something we can build upon. If we take back C ­ ongress and the Senate next year, it will lead to gridlock. There will be more standstill than progress, but--checks and balances--they will have to find compromises. We’ll see, but I see the situation quite positively.

Moderated by CORDULA SCHNUER Photos GUY WOLFF

Frederic Becker joined the Republicans Abroad in Luxembourg in 2016.

Essay

DECEMBER 2021

40

The secret costs of digitalisation Digital services are described as immaterial or virtual; yet the creation, processing, storage and movement of data rely extensively on finite resources: electricity, water, metals, chemicals and manmade materials, such as plastics and glass.

Words BIANCA PANAINTE Illustrations SALOMÉ JOTTREAU

Sustainable ICT

Luxembourg’s boisterous drive to digitalisation In Luxembourg, the covid-19 crisis accelerated the introduction of digital public services for business and private individuals. 15 years ago, Clive Humby acknowledged that data is the new oil. Thus, Luxembourg is actively investing in new technologies and, in 2019, launched a data-driven innovation strategy to develop a trusted and sustainable, competitive, digitalised economy and an AI strategy.

By investing in key sectors such as AI, blockchain technologies, supercom­puters and big data analytics, the economy will attract new investors, create numerous

A SMARTPHONE NEEDS 227KG OF RAW MATERIALS 60 elements 16 out of 17 rare raw minerals 35kg of mined ore 20.5g of cyanide 128l of water Source

wastewise.be, stacker.com

opportunities and turn the grand duchy into a circular financial hub. In June this year, the same ministry published the roadmap for a competitive and ­sustainable economy 2025, emphasising L ­ uxembourg’s’ ambition to become a leader in the full digitalisation of key strategic sectors.

Both documents, however, mention sustainability and sustainable development only in the context of the national economy. Also, the creation of a circular ­e conomy is sought solely within the ­national context. Digitalisation shall accomplish the transition to a green economy, and although ensuring an energy-­ efficient and sustainable digital transition

is one of the “building blocks” of the roadmap, it drafts no clear actions aimed at reducing the industry’s environmental footprint.

Luxembourg recently launched the Meluxina supercomputer, Europe’s ­greenest high-performance computer. The supercomputer’s up to 100,000 multiple-thread processors are built with modules from China, the number one global manufacturer. These modules are used to build all ICT and IoT devices, and China’s industry continues to be, to a great extent, powered by coal and lignite. Meluxina is fuelled by the neighbouring cogeneration Kiowatt plant that allegedly burns the 39,000 tonnes of yearly wood waste from Luxembourg.

Yet wood waste has to be transported to the plant, and it has to be cut into pellets, which inevitably has an environmental impact. Moreover, some scientists argue that burning wood pellets releases as much or even more CO2 into the atmosphere as coal. The government of Luxembourg “has the ambition to transform the country into a living lab for applied AI”, failing to recognise that the deep learning process of training an AI model can emit nearly five times the life emissions of an average car, i.e., 284,000kg CO2.

Last year, Bissen’s municipal council approved the change in general development plans needed for the construction of Google’s Luxembourg data centre. The project will encompass only a third of the 34ha site bought by the tech giant.

THE CARBON IMPACT OF SOCIAL MEDIA Comparison of the most popular social media applications measured on an S7 (Android 8) smartphone Source

Statista/Greenspector

g CO2/minute 5

4

3

2

1

0

DECEMBER 2021

Information and communications technology (ICT) has undoubtedly made our lives easier, increasing international connectivity and cross-border business activity. Demand for technology hardware--mobile phones, printers, servers, computers, Internet of Things (IoT) and connected devices, smart home security systems, autonomous farming equipment, wearable health monitors, etc., is on the rise. This implies creating, moving, processing and storing an ever-­ increasing amount of data around the world.

Artificial intelligence and machine learning also require vast computing powers, data processing and digital infrastructures.

The amount of data in the world is estimated to reach 74 zettabytes by the end of 2021, and Finance Online states that it will double by the end of 2024. In addition to the extensive quantities of finite resources going into the production of digital products and services, accelerated technological obsolescence creates dangerous, highly toxic e-waste dumps, conta­ minating land, water and air. According to the World Economic Forum, 50m tonnes of e-waste are created, and estimations pinpoint 120m tonnes annually by 2050.

Due to technological breakouts, processors are increasingly performant and energy efficient. Likewise, cooling technologies consume less energy. However, the direct energy consumption invested in digital technology has increased by 37% since 2010, requires 10% of the electricity produced in the world and, by 2030, it will consume 20%. With the current global climate crisis, we cannot continue supporting the same old Nimby policies, and in the context of a digitalised economy, we must now acknowledge the hidden costs behind our screens.

41

Essay Sustainable ICT

DECEMBER 2021

42

Environmental NGO Mouvement ­Éco­logique (Meco) argued that the data centre could use 12% of the country’s electricity and use up about the same amount of water resources for cooling. The municipal council claimed that this energy will also come from the Kiowatt plant, with a debatable reduced environmental impact.

The centre will use wastewater for cooling; however, coolants made of hazardous chemicals will still be needed, and their disposal could pollute water resources, soil, and damage the ozone layer. In J­ anuary 2021, the ministry of environment issued an administrative notice concerning the scoping of the environmental impact assessment in the case of the data centre in Bissen. The ministry declared that they received no feedback on the tech giant’s construction projects, the next step towards the achievement of the project.

The data centre’s uninterruptible power supply systems will also need immense batteries to keep the systems online in case of disruptions. These batteries have a limited lifespan, and their manufacture involves destructive mining and hazardous conditions for workers. Meco recently criticised the government’s plans to ensure “sustainable growth” and its strong belief that technological progress is the cure-all solution. Meco argues that the government’s strategy demands colossal energy resources, and renewable energies could never power this economic transition.

Meco also denounced the “pink”-hydrogen energy that should ensure the energy transition, as it is produced with highly controversial nuclear power.

MANUFACTURING A PC USES 1.8 TONNES OF RAW MATERIALS 50 natural elements 22kg of chemicals 1.5 tonnes of water 240kg of fossil fuel Source

science.slashdot.org

the phone for a minute emits 57g CO2.

Our environmental impact does not only involve CO2 emissions. In the 1990s, the Wuppertal Institute for Climate, ­Environment, and Energy developed a method for calculating the material input per service unit (MIPS), i.e., the number of resources needed to manufacture a product or a service. The research ­estimated that one minute of a telephone call has an input of 0.207kg, for one SMS the input is 0.632kg. Watching TV for an hour of television requires 2kg of r­ esources.

The replacement cycle of a smartphone is, on average, 21 months; for a PC, this is 4.9 years. When buying the new smartphone model, we tend to overlook that the manufacture of a smartphone needs up to 60 metals out of the whole 90 existing. Likewise, the production of a laptop uses 50 elements existing on Earth. ­Moreover, repeatedly rinsing--more than 30 times--of printed circuit boards requires 33 tonnes of water per PC and more than 1.2 tonnes for semiconductors. The digitalisation of the economy was found to negatively impact the environment as well. A study found that, on average, in a year, a user consumes 5,740kWh, emits 800kg greenhouse gas, uses 13,910l of water and creates 3kg e-waste. According to the WEF, there is 100 times more gold in a tonne of smartphones than in a tonne of gold ore.

Environmental impact at the individual scale At this stage, it is worthwhile looking at individual-use digital technology and its environmental impact. BBC estimates that each of us is responsible for 414kg CO2 per year in the manufacturing and running of digital technologies. According to Datareportal, there are 612,100 internet users in the country, and 410,000 were active social media users. Social media representatives repeatedly highlighted that they use green technology and emphasised their engagement in Where to next? promoting green consumption. Yet the The dematerialisation of the economy environmental impact of their use is not and the transition to a data-driven ­economy inconsequential: one minute on TikTok come at a great cost to our environment. emits almost 5g CO2, Pinterest 3.6g CO2, Being aware of the environmental impact and Snapchat 2.1g CO2. Talking on of our daily online interactions, that

­streaming a video online requires information to travel around the world to access GAFAM (Google, Amazon, Facebook, Apple and Microsoft) data centres ­powered by fossil fuels and coal, might make us think twice before sending that pointless email and releasing another 50g CO2 into the atmosphere. We must rethink our way of life and consume more sustainably or, as Sir David Attenborough points out, face the fact that “we have a moral responsibility to do something about thousands of women and children who lost everything” because of our choices.

This November, Paris hosts the Data Center World gathering, where professionals from the tech industry will ­promote products and solutions to build the data centres of the future. Sweden and F ­ inland have already designed data centres that reuse the heat they produce to power homes. In 2018, Microsoft launched ­Project Natick and is currently experimenting with underwater data centres. Will ­Luxembourg’s government follow Meco’s recommendations and acknowledge the urgency of a paradigm shift?

Sources We Green IT study – World Wide Fund for Nature, 2018; World Economic Forum report – A New Circular Vision for Electronics, 2019; Luxembourg Ministry of Economy – The Data-Driven Innovation Strategy for the Development of a Trusted and Sustainable economy in Luxembourg, 2019; Ons Wirtschaft vu muer, June 2021; AI watch – European Commission; Oeko.lu – Stellungnahme – Statt Worten und Lippenbekenntnissen: reelle Taten in der zweiten Hälfte der Legislaturperiode! October 2021; BBC – Why your internet habits are not as clean as you think, January 2021; Ritthoff, Michael, Rohn, Holger and Liedtke, Christa Calculating MIPS: Resource productivity of product and services, 2002

to be consumed with moderation

plan K

vins-cremants.lu

ENJOY IT, IT COMES FROM LUXEMBOURG The AOP* label on the bottles, your guarantee for quality local wines and cremants. *Appellation d’Origine Protégée

Gusto

NOVEMBER DECEMBER 2021

44

Apéro hour!

Here’s one reason to tempt you back to the office: afterwork drinks and bites to take the edge off.

Words ABIGAIL OKORODUS Photo ROMAIN GAMBA

1 Bellamy Any of the delicious gastronomic tapas would be ideal for an afterwork drink with colleagues.

Pair the arancini balls, a new addition to the menu, with Bellamy’s martini cocktail. www.bellamy.lu

2 Max & Moritz The truffle croquettes on truffle mayonnaise or the tuna poke on wonton shells can be enjoyed with a porn star martini or the Munich mule cocktail. www.maxmoritz.lu

Go Ten Try the Japanese-inspired gin only available at Go Ten or the cocktails from the autumn menu. Pair these with the Japanese Peruvian gyoza or the Nikkei tuna tataki. www.gotenbar.com

El Barrio The Russian salad, garlic shrimp, or the house special--montadito barrio made with foie gras, chutney and Spanish peppers--can be enjoyed with a sex on the beach or passion fruit cocktail. www.elbarrio.lu

of ’ts

afterw

rinks kd or

4

Nicole Olenskaia from De Gudde Wëllen

an Dos d don

3

“A good after-work is more than a good drink: it’s about a cultural experience that makes your evenings more colourful.”

LI

BY EJUP ABDI

Ejup Abdili, who runs Konrad and Steiler, gives his apero hour tips.

Things to do: Smile, greet and have fun Become a regular Spend a whole day there Talk to people you don’t know Buy a round Things to avoid: Getting wasted Asking to change the music Not paying your bill Asking for free drinks Complaining about the weather

NOVEMBER DECEMBER 2021

45

Welcome to the Club

Business Club

DECEMBER 2021

46

In numbers

Flashback Your events

1,100

The last month the Club welcomed a mix of international speakers to the stage.

1 Christos Christou, the international president

of MSF, educated the audience at Banque Degroof Petercam Luxembourg on the unfolding challenges in Afghanistan and on Europe’s borders.

Our 10×6, sponsored by PWC and the INDR, focused on CSR and reflected on the practical challenges faced by organisations, as well as the national challenges in relation to sustainability. If you missed the event, do not worry, it was clear that this subject will be around for many years to come!

Is there a crisis in the real estate sector? Many said yes during our Club Talk hosted by real estate expert Céline Coubray and Thierry Raizer. Increasing demand and decreasing supply intertwine with the culture of real estate investment, all leading to increased prices.

COMPANIES The number of company members of the largest business club in Luxembourg.

18,000 MEMBERS

The number of individuals who are part of the vibrantly active Paperjam + Delano Club community with whom you will get to interact.

383

EVENTS The number of digital and on-site events. Choose from about 400 conferences, training, networking and workshop events each year.

"Sustainability issues are at the heart of the company’s strategy."

500

Laurence Graff Sodexo

HOURS

The number of annual training hours for your employees to develop their hard and soft skills: an additional benefit for you and useful extras for your teams.

3

HOW TO ATTEND PAPERJAM + DELANO CLUB EVENTS ?

You’re already a member Please check the Club section on our website paperjam.lu. Select, among all the digital and on-site events listed, the ones you would be interested in, fill in the registration form at the bottom page and register.

You’re not a member yet Please email the Paperjam + Delano Club via club@paperjam.lu and an account manager will be in touch to introduce you to all the perks offered by the largest business club in Luxembourg.

47

Programme November

DECEMBER 2021

Tuesday 23 November

Inspiring Talk: Give up? Never!

TIME 18:30 – 21:30 Livestream LOCATION Banque Degroof Petercam Luxembourg SPONSOR Degroof Petercam Luxembourg Thursday 25 November 10×6

Cybersecurity: 10 shades of risk TIME 18:30 – 22:30

1

LOCATION Athénée de Luxembourg SPONSORS Post, Cubic Consulting

Julien Froumouth ABBL

Paperjam Recovery Awards TIME 18:30 – 22:30 LOCATION Athénée de Luxembourg SPONSORS Spuerkeess, Chamber of Commerce, Resultance

Photos

"Start small, start now."

Simon Verjus, Marc Blasius, Léo Biewer, Romain Gamba

Thursday 02 December

Sign up on the Paperjam + Delano Club site: club.paperjam.lu

011 BY MIKE K N2 OE DI DI DE

N GE

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FO UN

48

DECEMBER 2021 EDITION

DECEMBER 2021

PUBLISHING DIRECTOR

Mike Koedinger EDITORIAL DEVELOPMENT DIRECTOR

Editorial Phone (+352) 20 70 70-150 E-mail news@delano.lu JOURNALISTS

Teodor Georgiev (-158) Aaron Grunwald (-152) Tracy Heindrichs (-164) Abigail Okorodus (-155) Jeffrey Palms (-156) Bianca Panainte (-159) Cordula Schnuer (-163) Josie Shillito (-153)

Nathalie Reuter EDITOR-IN-CHIEF, DELANO MAGAZINE

Publisher

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Pick’n’mix

50

Jobs of the future

ACADEMIC VICE-RECTOR

Siva Bactavatchalou

Humanities, education and social sciences, although we cannot automate the “human” elements, so it is unfair.

What will “employment” look like in 50 years?

Not faculties, but values.

The future of work is about more than tech, money and power.

Compare work in 1921 and 2021! Change is inevitable… but impossible to predict.

Does the workforce in Luxembourg today have the skills for 2050?

Better collaboration between business/industrial players and academia to include experiential learning

Maybe. The skills for the future include flexibility, digital skills and a willingness to learn.

For a successful future, what skills should we be learning now?

Yes. Our students graduate in teamwork, independence, analysis, self-motivation and organisation.

A new language.

Talk to each other. Listen.

Skills or degrees: which should matter the most, and why?

Which faculties are under-represented in the future of work discussion?

Is it the role of academia to bridge the skills gap?

ENTREPRENEURSHIP PROGRAMME MANAGER

A degree will give you a lot of skills, and experience will show you which ones of those work best for you.

Working at a higher age, people take several gap years to explore the world, start their own business…

Unfortunately, like many other countries, it has not yet, but the mindset should be lifelong learning.

Entrepreneurial skills which open doors to many other skills: creativity, resilience, perseverance, public speaking, networking, leadership…

Both matter at different stages of life: get the degree first, in parallel or after the skills, then upskilling.

Romain Raux

Nikola Kaserová

Ranjani Polepeddi

CAREER CENTRE COORDINATOR

MASTER IN EUROPEAN BUSINESS LAW STUDENT

MASTER IN ENTREPRENEURSHIP AND INNOVATION STUDENT

Sure, more than ever, in close collaboration with the working environment.

If not academia, who will?

Yes, of course.

It is essential to prepare students for the real world.

Moving ahead, a considerable part of its role will be to bridge the skill[s] gap.

The future of work should leave more space for philosophy, art, psychology, history, social and cultural diversity.

Hopefully, human interactions will still be at the cutting edge of every job.

Yes, but the culture of lifelong learning should be more widespread. Take risks, and go back to the university!

None of them.

However, the lack of students in manual jobs is.

An in-depth focus on human dynamics-- interpersonal and intrapersonal relationship at work-would add value.

Surely digital, automatised and hopefully greener.

Fewer working hours, short-term collaborations, less hierarchy and designations that we can barely imagine today.

I think the advantage of Luxembourg is to encourage this ability to be multitalented.

Confidence.

In oneself, in others, in the future.

The ability to learn from others.

Skills and degrees are impossible to dissociate.

Both are the major ingredients of the personality.

And personality matters.

The skills can improve, the degree cannot.

The Luxembourg workforce is in some of the most competitive industries and is pretty future-ready.

Pitching.

As applicants, students, employees, entrepreneurs or managers, we are making pitches of some sort.

Skills should matter more, but degrees help in filtering applicants for employers and fetch opportunities.

University of Luxembourg, Sophie Margue, Shutterstock

Catherine Léglu

Photos

DECEMBER 2021

Staff and students from the University of Luxembourg talk about academia and the future of work.

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