With tariffs and trade barriers increasingly becoming the norm, it seems that controversial developments are characterising the current state of world trade.
Although the backlash against globalisation is widespread, parts of the world are striving to let others know that they remain open for business: one such place is Hessen, the German state located at the heart of the country. Home to Frankfurt – Germany’s financial centre – the region is perfectly positioned for organisations wishing to target markets in Europe and beyond.
At Hessen Trade and Invest, the state’s business development agency, we provide services to aid companies that are focused on innovation and technology across Hessen, as well as for foreign investors and international companies already operating in the region. We also offer support to foreign companies by helping them establish a presence in Hessen, as well as providing support to local companies seeking to gain a foothold in foreign markets. It’s for these reasons the state has been able to assert itself as a competitive business location in the face of a changing global landscape.
In addition, a high standard of living and a vibrant cosmopolitan atmosphere make Hessen a great place to live and work.
A sure investment
Punitive tariffs, trade wars and Brexit: these turbulent issues are the hallmarks of today’s global economy. This can be seen in the increased mutual tariffs between the US and China, with the prospect of further increases looming. The primary focal point within the EU, meanwhile, is undoubtedly Brexit, a topic that has been plagued with a series of unresolved regulatory issues. This has, in turn, served to further amplify the already high levels of uncertainty in the political and business arena.
Despite these issues, Hessen has managed to maintain its status as an internationally recognised and highly attractive investment location. There has been an especially large rise in the number of UK-based companies establishing a foothold in the state. Hessen’s Minister of Economics, Tarek Al-Wazir, recently said Hessen enjoys these benefits thanks to its central location at the very heart of Europe, robust infrastructure, unique pool of highly qualified professional specialists and excellent network of respected universities. In addition, a high standard of living and a vibrant cosmopolitan atmosphere make Hessen a great place to live and work.
A global reputation
A growing number of international companies are electing to establish operations in Hessen. Our statistics show that Hessen’s top investor in 2018 was undoubtedly the US (with 54 companies), followed by the UK (29), which managed to surpass China (22). Furthermore, companies based in Japan, India and France certainly value the business location of Hessen and its infrastructure for a number of industries, such as financial services, IT, chemicals, pharmaceuticals, metalworking and automotive manufacturing.
We primarily advise companies seeking to establish, relocate or expand their operations in Hessen, as well as offering custom-made packages for investors. We work closely with regional and local business development agencies, such as the Infrastructure Bank of Hessen and Enterprise Europe Network. We make an effort to bring the right partners together, establishing effective working partnerships to boost Hessen’s economy and make it a great place for companies to do business in.
Global trade may be on shakier ground than it once was, but there are still opportunities to be had. In Hessen, these opportunities are geographical, financial and strategic. At Hessen Trade and Invest, we’re on hand to ensure companies make the most of them.