Denmark,which is an excellent gateway to Northern Europe and the Baltic states because of its strategic geographical location , provides a host of opportunities for research and development driven set-ups to access funding from the Danish government such as industrial PhD programmes in life sciences according to Pramila Das , Investment Manager, Invest in Denmark.
Despite the fact there are no direct incentives to foreign investors setting up businesses in Denmark, the Government funded Industrial PhD research project can be an opportunity for companies to prioritise research efforts without having to invest all necessary resources themselves. The Industrial PhD project is a three-year engagement with an academician who will deliver a PhD project in close collaboration with the local University and the respective company offshore, she said
“The Industrial PhD programme is offered by the Danish Agency for Science, Technology and Innovation in the areas of pharmaceutical sciences, health sciences and life sciences. For the fees, one-third is borne by the industry which is interested in sponsoring the candidate and two-third by the University and the government of Denmark,” she added.
Among other incentives to foreign investors wanting to set up business in Denmark are quick, informal and cost-efficient establishment procedures and online incorporation of new companies within a few hours. There is no need for resident requirements for members of the Executive Board (CEO) and Supervisory Board. Shareholders and board meetings can be held electronically; dividends can be distributed on an interim basis because the Danish company law is in conformity with current European Union legislation.
Denmark also offers research and development facilities. “R&D funding is available from the government for knowledge intensive projects involving Danish research institutions and foreign investors,” said Das adding that that current themes that are attracting funding are biotechnology and clean technologies.
The country’s knowledge economy makes it an excellent hub for research and development. Clean technologies and Life Sciences - biotech are some of the major thrust areas.
From Denmark, companies investing in the region can cover the markets of Scandinavia and Western Europe.
Denmark’s economy is one of the strongest in Europe. The recession has led the government to announce stimulus packages for financial sector. Denmark’s well-educated labour force is a big asset for Indian businesses. The country has 12 international schools offering course in English, German, French and Japanese educational systems. Its 11 universities and colleges offer degree-level education in English language. Around 96 per cent of young people attain secondary education while 35 per cent complete higher education. A variety of study programmes are offered and all institutions have intensive international co-operation and welcome international students. It has reasonably flexible labour laws, which makes it easier for companies to hire and lay off employees.
Overall, Denmark government is open to foreign direct investments as it has been supporting the outsourcing of Danish jobs for a number of years, trying to create a knowledge society. For that reason, the government has over many years implemented a favourable society for investors as a whole. The environment is favourable for anyone to do business.
According to Invest in Denmark Agency, manufacturing may be carried out in various ways. A foreign company could establish separate production facilities, either by building, acquiring or leasing such facilities or having products manufactured by establishing contacts to existing producers of similar products in Denmark.
Establishing production facilities in Denmark is most often done by establishing a Danish company (A/S or ApS) and letting the company acquire or lease such facilities. In the services sector, a regional headquarter or a branch office or a project management office can be established.
Invest in Denmark assists global companies in leveraging multiple business opportunities in Denmark which is now viewed as a most favoured EU destination.