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Denmark

China keeps its money out of Denmark, so far, despite splashing money in investments around

Wednesday, 17 August 2011
China has invested billions across the globe in recent times but not in Denmark. The Chinese companies are not looking at Denmark as a place to start putting their money…not yet.

This aspect is being noticed by the Danish officials and the media and some of them are pointed that “the Chinese investments in Denmark are small and insignificant, and it may seem surprising, for Chinese investments have growing rapidly in the past years in many countries,” says Professor Kjeld Erik Brødsgaard from Copenhagen Business School to Danish radio News.

The latest figures from the Chinese Ministry of Commerce show that only about Dkr13 million in direct investments from China to Denmark occurred in 2009. This is based on the comparisons in relations to 17 other European countries, the figures show.

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Invest in Denmark, are seeking means of attracting more Chinese businesses into Denmark:
“There is no doubt that China is a very important country and that is precisely why we have five people sitting out there,” says director of Invest in Denmark, Merete Juhl, relating to the fact that much efforts are being made within China to make Denmark known to Chinese businesses.

The lists of Chinese companies in Denmark include among other windmill company Envision Technology Company Huawei and BGI (formerly known as Beijing Genomics Institute) that supports developments of science and technology.

“These companies are a good example of how the Chinese have an eye for Denmark, says Merete Juhl, who also add that “We also see many Chinese delegations in Denmark.”

One problem affecting investment in Denmark which the Chinese might have observed is the work ethics or work culture. When invest in Denmark succeeds to establish contact with foreign investors, they face a sceptical scenario in Denmark because of the Danish work culture:

“Our tradition of combining work and leisure is something that many companies think is really good. But there are also those who see it as not a proper working style,” says Merete Juhl.
Labour cost in Denmark is also considered very high according to Juhl.
By Scancomark.se Team


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