UK Red-tape Is The Biggest Hurdle For Digital Economy ? Vodafone
There is no overall economic or industrial strategy that has discriminatory effects on foreign investors. There are no limits on foreign ownership or control (for example, all the banks are wholly-owned subsidiaries of their parent entities). General screening of foreign investment exists in line with that of domestic investment, with routine and non-discriminatory screening mechanisms. There are no major sectors/matters in Luxembourg in which foreign investors are denied national treatment (equivalent to domestic firms). Following a decision to prioritize the simplification of administrative procedures which had been a deterrent to the creation of small businesses and the spirit of entrepreneurship in Luxembourg, the Ministry of Middle Classes (small and medium-sized businesses), in cooperation with the Ministry of the Economy of GOL established a National Committee for administrative simplification (alleviating bureaucratic red-tape). This measure is intended not only to enhance the competitiveness of the Luxembourg economy but will also provide easier access to the Luxembourg market for all entrepreneurs, including Americans. This measure, directly related to the national plan for innovation and full employment, provides for a reduction of paperwork and a long-term commitment by the appropriate agencies to study the impact of future draft laws on the small business community. On average, a company can expect to be registered within six months of application, especially with the support of the Luxembourg Chamber of Commerce, which requires all commercial enterprises to become members (register).
UK red-tape is the biggest hurdle for digital economy – Vodafone