INVEST IN DENMARK
Invest in Denmark is part of the Trade Council in the Ministry of Foreign Affairs of Denmark. The organization serves foreign companies considering the possibility of establishing business operations in Denmark.
In the last 15 years Danes have become 40% more efficient. That is how much productivity has increased since 1990. Analysts say that Denmark is well placed to maintain its leading position in creating growth through productivity, with flexibility and ability to adapt being important related parameters.
Denmark offers foreign investors a wide range of opportunities for establishing a business:
- A range of corporate forms enabling investors to tailor the investment to business needs and activities
- Quick, informal and cost-efficient establishment procedures
- Online incorporation of new companies in a few hours
- No residence requirements for managing directors or board directors
- Shareholder and board meetings can be held electronically
- Dividends can be distributed on an interim basis
- Danish company law conforms with current EU legislation
Engine for growth
Information and communication technology (ICT) is one of the major engines for growth, innovation and economic development in regions that have established themselves as information-society friendly. Denmark is such a region.
Denmark ranked No.1 in the world in IDC’s Information Society Index in 2005. According to IBM, Denmark is No.1 in the world in terms of e-readiness; No.4 in the world, according to IMD, 2005, in Communications Technology; No.3 in Europe in terms of development and application of technology and in the World Top 5 in terms of availability of skilled labour.
Danish competencies in sensor technology are among the world’s best. Brüel & Kjaer has set world standards in acoustics and vibration – standards which are used throughout the world in the automotive and aircraft industries. Correspondingly, Danish companies are leaders in sensors for measuring waste water and input and output in gas and central heating systems.
Denmark has strong competencies in technologies relevant to business software development. One of Denmark’s main strengths is the high concentration of cross-disciplinary researchers – enabling the integration of software in a multitude of industries. This has led to a growing number of international companies placing their R& Dactivities in Denmark including IBM, Nokia, Broadcom, Microsoft, HP and Siemens.
Denmark is one of the world’s leading centres for wireless R&D, with more than ten mobile development centres – in the application area as well as the design of new handsets and infrastructure components.
Players representing every link of the mobile development value chain are found in Denmark. This has been a key factor in creating the dynamic and innovative environment flourishing in the country.
The presence of world-class universities and technical colleges is another reason for Denmark’s strengths in wireless communication. Most of the world’s leading companies are represented in the Danish wireless cluster, including Motorola, Sony/ Ericsson, Nokia and Texas Instruments.
No.1 in life science
Life science is a thriving business sector in Denmark, with 30% of the country’s patent activity coming from this industry. The Danish life science sector is strong in production and especially strong in R&D. This is demonstrated by the fact that on a per capita basis Denmark is No.2 in Europe for R&D expenditure.
Denmark is home to major pharmaceutical companies such as Novo Nordisk and Lundbeck, as well as many small and medium sized biotechnological companies with a strong position in R&D. Denmark boasts Europe’s second largest pipeline in pharmaceutical development. The biotech sector employs 40,000 people and generates annual exports of USD 4 bn.
The Danish medical technology industry mainly consists of highly specialized small and medium sized companies, generating a total turnover of USD 6 bn and employing a total of 30,000 people. Denmark produces more medical equipment per capita than any other country.
Danish Biotech strongholds
CLINICAL TRIALS: From preclinical through phase III
VACCINES AND METABOLICS: Research and production facilities at the world-renowned State Serum Institute. The strongest diabetes cluster in the world – with basic research at The Steno Diabetes Centre and The Hagedorn Research Institute. Very strong commercial research by Novo Nordisk. The company supplies 50% of the world insulin market.
CENTRAL NERVOUS SYSTEM: The only cluster in the world that combines strong academic research with major pharma presence.
CARDIOVASCULAR DISEASES: According to Boston Consulting Group, Denmark has very strong research in both medicine and medical technology approaches.
CANCER: A large number of commercial biotech R&D companies. Comprehensive research in cures, relief, vaccines and delivery of chemotherapy as well as medical devices.
INFLAMMATORY DISEASES: Strong basic research and easy access to a large pool of experienced researchers working in the Copenhagen-based Medicon Valley.
Danish research and Danish companies have constantly led the world in wind energy. 40% of the world’s wind turbines are produced by Danish companies – and in Denmark itself, more than 20% of the country’s electricity consumption is supplied by wind energy.
Denmark is also leading the way in R&D for the future Hydrogen Society. In the area of biofuels, such as bioethanol and biogas, Denmark is also leading development.
India’s Suzlon Energy has chosen to locate their global headquarters in Denmark.
Tulsi Tanti, Chairman of Suzlon Energy Ltd, India, says:
“Denmark is a global leader in know-how for wind energy. That is why our global headquarters is here.”
Per Hornung Pedersen, CEO, Suzlon A/S, Denmark adds:
“Denmark is the world’s leading wind energy hub. We could have placed our global headquarters anywhere in the world, but Denmark is the obvious choice when it comes to wind energy. Danish competencies in this field are unsurpassed and by locating here, we have direct access to an abundance of world-class know-how.”
Suzlon Energy’s global headquarters officially opened early in 2005. From there some 30 highly qualified staff manage Suzlon’s international activities in selected international target markets: the US, Australia, China and a number of European countries. The responsibilities and activities of the company include global management, sales and marketing for markets other than India, project management and support and service.
Suzlon is the world’s 6th largest wind turbine manufacturer with ambitions of becoming top league. The Indian company, which focuses its production on on-shore wind turbines, generated estimated 2004 revenues of USD 400 m.
This page forms part of the publication 'FOCUS DENMARK' as chapter 4 of 22
Version 1. 09-06-2006
Publication may be found at the address http://www.netpublikationer.dk/um/6565/index.htm