EU companies reduce investments in UK

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EU companies reduce investments in UK

June 25, 2018 - 11:45
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Exactly two years after Brexit vote, survey conducted by law firm Baker McKenzie showed that about half of 800 executives from six EU countries asked for opinion stated that their companies reduced investments in the UK during this time, Bloomberg reports.

Photo © Daniel Diaz, CC0 1.0

Exactly two years after Brexit vote, survey conducted by law firm Baker McKenzie showed that about half of 800 executives from six EU countries asked for opinion stated that their companies reduced investments in the UK during this time, Bloomberg reports.

Survey results came out just after Airbus SE announced last week that it might pull out investments from the UK, if country exits EU without any deal.

Survey included managers from France, Germany, Spain, Netherlands, Sweden and Ireland. Yearly revenue of their companies exceeds 250 million pounds. About half of them are observing difficulties within their companies’ supply chains. For most executives from EU the idea of free trade is more attractive than customs union.

Last month Paris beat London as the most attractive European city for investors. It happened for first time in more than a decade.

It is a reality that multinational companies will be choosing as their base a country with easy trading, more qualified workforce and necessary infrastructure.