Dutch Brexit bonanza continues: investment agency

THE HAGUE: The Netherlands attracted 78 more firms from Britain last year as uncertainty persists over post-Brexit trading conditions, a Dutch investment body said Thursday.

Overall the number of foreign companies moving to the Netherlands dipped in 2020 due to the coronavirus pandemic, the Netherlands Foreign Investment Agency said.

Despite Britain and the EU reaching an accord deal on future trade ties in December, "the uncertainty of recent years has far from disappeared," it said.

"Even now that a deal has been concluded, the Netherlands remains popular with so-called Brexit companies," the agency said in a statement.

"Many companies in the UK are currently experiencing problems due to extra administration, procedures, delivery times and delayed access to the European sales market."

In all, 218 companies had moved to the Netherlands from Britain since the UK voted to leave the EU in 2016, the agency said, adding that it was in talks with another 550.

These included not only British firms but also Asian and US companies that were "rethinking their European structure".

The 78 that moved last year included the Commonwealth Bank of Australia, tights-maker Snag Tights and Candy Hero.

The Dutch have so far been among the big winners from Brexit with London's financial district last month losing its European share trading crown to Amsterdam.

But overall there were "significantly fewer" companies moving to the Netherlands -- 305 last year including plant-based food company Beyond Meat.

The figure was down by about a quarter from 2019, the agency said.