Business Forum: Sweden highlights its strengths
During a visit to the Principality on 12-13 October, a Swedish delegation led by HRH Prince Carl Philip joined HSH the Sovereign Prince Albert II at a conference held in the Yacht Club de Monaco on the theme “Connecting and Protecting our seas: initiatives in the Baltic and Mediterranean”. The Monaco Economic Board and its Swedish counterpart took the opportunity to jointly host a Business Forum.
Focusing on Sweden and business opportunities for Monegasque companies, the forum held on 12 October was attended by Monaco’s Minister of Finance and the Economy Jean Castellini.
In the Yacht Club’s stunning Sunrise lounge the speakers were as follows:
- Michel Dotta, Chairman, Monaco Economic Board
- H.E. Veronika Wand-Danielsson, Swedish Ambassador to Monaco
- Robert Wentrup, Trade Commissioner France - Business Sweden
- Jonas Jakobson, Nordic Equities founder (investment fund mainly for Nordic companies)
- Mattias Landgren, State Secretary to the Minister for Infrastructure
Monegasque entrepreneurs present spanned a wide range of sectors (Textiles, Consultancy & Business Services, Financial Engineering, Food Trade, Real Estate, Insurance, Construction, ICT, etc.). They were interested to hear about a country that is thriving and open to the world, backed by expertise in innovation and the environment, two areas dear to the Principality.
The latest World Economic Forum’s Global Competitiveness Index ranks Sweden 7th out of 139. It is based on criteria as diverse as innovation, macro-economic dynamics, technological maturity, business environment, health & education, labour market efficiency, etc., all assets behind the emergence of global giants like Ikea, H&M, Ericsson and Volvo.
Despite a sharp decline in earnings growth following the 2008 crisis, the country responded rapidly with reforms, showing a resilience to the consequences on a par with the Principality. Unemployment has been dropping for the last five years and now stands at 6.8%.
Another feature highlighted by speakers, which echoes that found in Monaco, is the culture of consensus between social welfare and the business world, another reason why it has adapted so well to the modern world.
All these factors confirmed the MEB’s intention to organise a Trade Mission to Stockholm in early June 2018, announced by Chairman Michel Dotta in his speech. His announcement was greeted warmly by the Swedish delegation and Monaco business men and women present. Relations between the two countries were officially established in 2009. Business exchanges are still in their infancy and the potential is there.
l-r. Michel Dotta, Chairman Monaco Economic Board, Jean Castellini, Minister of Finance and Economy; HRH Prince Carl Philip of Sweden; H.E. Veronika Wand-Danielsson, Swedish Ambassador to Monaco; Mattias Landgren, State Secretary to the Minister of Infrastructure; Robert Wentrup, Trade Commissioner France - Business Sweden; Jonas Jakobson, Founder of Nordic Equities. ( photo : S. Danna / Realis)