AmCham Belgium’s 2019 Priorities for a Prosperous Belgium (PPB) – which will be launched on February 19 – will set a new challenge and ambition for the next federal and regional governments: achieve a top ten ranking in the World Economic Forum’s (WEF) Global Competitiveness Index within the next ten years.
Every year, the World Economic Forum (WEF) publishes its Global Competitiveness Report, a ranking of 140 countries based on their competitiveness measured across twelve policy domains. Over the past five years, Belgium has been going up and down in the ranks.
The Global Competitiveness Index is an ideal benchmark to measure the long-term success of policy initiatives as the main concerns of our member companies for investing and doing business in Belgium align closely with those areas where Belgium has the greatest room for improvement in the rankings: the labor market, country governance, infrastructure and taxation.
A small and open economy like Belgium depends on foreign direct investment (FDI) to support the local business ecosystem as well as to promote job creation, knowledge transfer and the general welfare. In 2018, foreign companies invested more than €5.38 billion in Flanders and Wallonia combined, creating at least 8,082 new direct jobs.
To become even more attractive for foreign investors, Belgium will need to take further measures to offer a best-in-class investment environment – and thereby climb the ranks of the WEF’s Global Competitiveness Index.
AmCham Belgium will set a new challenge and ambition for the next federal and regional governments: achieve a top ten ranking in the WEF’s Global Competitiveness Index within the next ten years.
The ambition is set, but climbing the ranks does not happen by accident. It is the result of targeted policies and efforts. Next week, AmCham Belgium will present our election memorandum, the 2019 Priorities for a Prosperous Belgium, containing our own policy recommendations to help meet this challenge. We stand ready to work with the next governments, on the basis of these recommendations, in order to help Belgium increase its competitiveness and attract more foreign investment. The only way is up!
Eager to know more? Stay tuned for the launch of our 2019 Priorities for a Prosperous Belgium on Tuesday, February 19!