 |
Courtesy
of Eric Draper, The White House
President George W. Bush walks with Prime Minister
Anders Fogh Rasmussen of Denmark. |
Denmark is one of the United States’ most
committed trading partners. The U.S. annually exports
about $9 billion worth of goods to Denmark, and
imports about $27 billion from Denmark. Since 1997,
bilateral trade has increased by nearly 50 per cent.
Not to mention the staggering amount of American
companies that has seen the benefit of setting up
facilities in Denmark.
"The close relationship between Denmark and
the U.S. is based on a set of strong common values,"
said Suzanne Kurstein, Executive Director of the
Danish American Business Forum, a non profit membership
based network organization. Organizations such as
the Danish American Business Forum (DABF) and Invest
in Denmark, a sector of the Danish Ministry of Foreign
Affairs that introduces American companies to Denmark,
are helping to further solidify the partnership
between Denmark and the U.S.
"We are natural partners. The role of DABF
is to promote the commercial relationship between
Denmark and the U.S. by facilitating an exchange
of information amongst Danish companies about the
U.S. market. Hopefully we can increase the level
of trade that exists between our two countries,"
said Kurstein.
Not only is trade between Denmark and the U.S.
thriving but American companies also seem to be
appearing all over Denmark in order to reap the
benefits of Denmark’s location, clusters and
economy. Elisabeth Manford, executive director of
Invest in Denmark explains, "Denmark’s
infrastructure offers holistic support to successful
business growth which makes it an ideal place for
many companies to locate."
teve Balmer, CEO of Microsoft, could not be more
satisfied about Microsoft’s choice to set up
the company’s biggest site outside the U.S.
in Denmark, he demonstrated his appreciation at
a keynote speech at Microsoft’s Worldwide Conference
in Toronto. "If we were just as successful
in other countries as we are in Denmark, the Microsoft
Business Solutions would be a factor of 10 bigger
in terms of revenue."
Part of the reason so many American companies choose
to call Denmark home is the help of organizations
such as Copenhagen Capacity and Invest in Denmark
which assist foreign companies by providing introductions
to potential Danish partners, coordinate visits
to Denmark, supply information on location possibilities,
and support companies after they have become established
within the country. "Our goal is to make the
relocation go smoothly and to introduce potential
businesses to Denmark’s high intellectual capital
as well as its efficient and adaptable infrastructure.
Most companies that explore the potential of Denmark
realize it to be an advantageous business location,"
said Manford.
 |
Courtesy
of Rudy Hemmingsen
Kastrup Airport Railway Station. |
The attractiveness of the Danish business environment
is continually documented. According to the Economist
Intelligence Unit (EIU) ranking in Global Outlook
2006, Denmark will have the best business environment
in the world from 2006-2010. This is not a new recognition
for Denmark; the country received a similar award
in 2005. Denmark received the first prize for 6
out of the 10 business environment categories covered
by the Economist Intelligence Unit’s model
for assessing the comparative attractiveness of
countries as investment locations. The EIU looked
at 60 countries and decided on Denmark partially
because of its stable economic environment, outstanding
infrastructure and flexible labor market.
From an infrastructure perspective, Denmark offers
one of the most advanced telecommunication networks
in Europe and a high-quality transportation system
including rail and high-ways, bridges connecting
to Sweden and all major islands. Denmark also boasts
the highest rated European airport serving as a
hub in Northern Europe. The labor force is well
educated and the market is astoundingly flexible.
There are no restrictions on hiring or firing employees,
and no social contributions paid by employers. Although
there is a stigma around Denmark and taxes, the
corporate tax-rate is lower than the European average.
In fact, a special flat tax rate of 25 percent for
expatriates has been introduced to attract top level
managers, academics and scientists from abroad.
Finally, political stability, diverse and transparent
financial system, lack of corruption, economic attractiveness
and high quality of life contribute to Denmark consistently
being ranked as one of the world’s best places
to live and set up shop. No wonder the U.S. has
turned to Denmark as a friend, ally, and preferred
business partner.
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DENMARK
