BCN-20 Netherlands reports dozens Brexit-related company moves from UK

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NETHERLANDS-BRITAIN-BREXIT-COMPANY

Netherlands reports dozens Brexit-related company moves from UK

THE HAGUE, Feb 9, 2019 (BSS/AFP) – More than 40 companies last year moved, or
said they would move, their operations from Britain to the Netherlands in
response to Brexit uncertainties, Dutch authorities reported on Saturday.

The combined moves of 42 companies will translate into the shift of just
under 2,000 jobs and of 291 million euros ($330 million) in investments, the
Dutch agency for foreign investment said in a statement.

Most of the companies are British, but some are from Asia or the US.

The Dutch government welcomed the figures, with Economy Minister Eric
Wiebes saying that “due to the growing international uncertainty surrounding
Brexit and changing global trade policies, the importance of a good Dutch
business climate for all of us is continually increasing”.

The list includes Japanese investment bank Norinchukin, media company TVT
Media, financial services providers MarketAxess and Azimo, and maritime
insurer UK P&I, the agency said.

Some of the companies were also looking at moving some operations elsewhere
in the European Union, including Germany, France and Ireland, it said.

In addition to relocations by corporates, the European Medicines Agency
(EMA), an EU agency, has said that it will move from London to Amsterdam as
it cannot legally remain in a non-EU country.

Britain is to leave the European Union on March 29, and uncertainty about
the shape of any agreement with Brussels by that date has created unease in
the business community, with many British and multinational companies having
already announced moves to elsewhere in the EU.

BSS/AFP/SR/1830 HRS