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Denmark bullish on foreign investments

The Danish foreign ministry says that it helped 68 foreign companies invest directly in the country in 2016.

Denmark bullish on foreign investments
Photo: Iris/Scanpix

In a press release, the ministry said that its Invest in Denmark department, which assists collaboration between local regions and stakeholders to promote investment in the country, it had achieved an annual result “in line with the previous year’s record”.

The ministry employs specialised staff in Denmark and abroad to facilitate foreign investment in the country.

Of the 68 foreign investments registered through Invest in Denmark in 2016, 26 of these were classified as “high quality” projects, according to the ministry. This means that they were either high in volume or that the investors had a low amount of knowledge of Denmark before investing, according to a Ministry of Foreign Affairs press release.

The 26 “high quality” investments represent a 20 per cent increase in investment of this type on 2015, says the ministry.

The result is a sign of the “number of high quality projects with high direct and indirect impact on economic growth and competences in Denmark,” said the ministry press release.

Companies that established themselves in Denmark in 2016 include US ozone technology and environmental solutions firm Piper Environmental Group; freight company Maurice Ward, which opened a Scandinavian hub in Billund; and Japanese giant Mitsubishi Rayon, which set up a joint venture with Danish components manufacturer Fiberline.

BUSINESS

Denmark’s toy giant Lego offers staff bonus after bumper year

Danish toymaker Lego, the world's largest toymaker, Denmark's Lego, said on Tuesday it will offer its 20,000 employees three extra days of holiday and a special bonus after a year of bumper revenues.

Lego is rewarding staff with a Christmas bonus and extra holiday after a strong 2022.
Lego is rewarding staff with a Christmas bonus and extra holiday after a strong 2022. File photo: Ida Guldbæk Arentsen/Ritzau Scanpix

Already popular globally, Lego has seen demand for its signature plastic bricks soar during the pandemic alongside its rapid expansion in China.

“The owner family wishes to… thank all colleagues with an extra three days off at the end of 2021,” the company said in a statement.

The unlisted family group reported a net profit of more than 6.3 billion Danish kroner (847 million euros) for the first half of 2021.

Revenues shot up 46 percent to 23 billion kroner in the same period.

It had been “an extraordinary year for the Lego Group and our colleagues have worked incredibly hard,” said the statement, which added that an unspecified special bonus would be paid to staff in April 2022.

Lego, a contraction of the Danish for “play well” (leg godt), was founded in 1932 by Kirk Kristiansen, whose family still controls the group which employs about 20,400 people in 40 countries.

READ ALSO: Lego profits tower to new heights as stores reopen

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