Economy

The Grand Duchy of Luxembourg is renowned for its political and social stability, skilled and multilingual workforce, state-of-the-art infrastructure, excellent connectivity to markets, as well as for its favorable legal environment and financial climate.

Over the last decades, Luxembourg has become one of the leading financial centers in Europe and the world.

Simultaneously, the government has consistently carried an economic diversification policy, investing heavily in key areas where the country is on the forefront: space technologies, logistics, clean technologies, bio and health technologies, automotive components and information and communications technologies in general.

 

Luxembourg, a European capital, has earned a justified reputation as a reliable hub for cross border businesses. Global players of all sizes use the country as a base from which to serve markets around the world. Investment and innovation are encouraged through an attractive legal and regulatory framework designed to support business creation and economic development.

 

Boosting research, development and innovation (RDI) is a national priority, and successive governments have been highly supportive of investment in both public and private research. Innovative start-ups are incubated, hosted and coached in publicly-owned facilities to ease their early development and access to State services and support.

 

Companies receive substantial funding for R&D projects and support from the Government that allow them to come up with innovative products, services and processes. Depending on the type and quality of the RDI effort and the size of the enterprise, state aids between 15 and 80% of the eligible cost of a project or program are available. Luxinnovation provides information and support for applicants.

A number of international industrial groups, such as ArcelorMittal, Delphi, Goodyear and SES, have chosen to locate R&D operations in the Grand Duchy, thereby taking advantage of the proximity of Luxembourg's public research sector, which has developed considerably over the past few years. Today, the University of Luxembourg and several other research centres with various specialisations make up the public research environment in Luxembourg. 

For more information, please contact Luxinnovation.