Interview with Beat Bachmann, Head of the Business Contact Point in the Canton of Zug
The head of the Business Contact Point advises companies interested in Zug as a business location. In an interview with immo! Nvest he explains the Zug economic area and looks ahead to the future.
Why should a foreign company set up in your canton?
Beat Bachmann: The Zug economic area offers a total package of outstanding location factors: the pronounced economic friendliness, political and financial stability, attractive taxes for companies and private individuals, internationality and the pool of available specialists, which in turn has a magnetic effect. In addition, there are investments in education, good accessibility, the excellent quality of life and an effective business environment. The canton of Zug is part of the Greater Zurich Area (GZA) and the metropolitan area of Zurich, one of the world's most attractive economic areas.
What type of company is interested in your canton?
Companies from broadly diversified industry groups: life science (pharma / biotech / medtech), wholesale, high-tech industry, finance, information and communication technology (including fintech and blockchain) as well as international headquarters.
What has specifically changed in terms of location quality in your canton over the past five years?
With the implementation of the tax reform on January 1, 2020, the business location Zug will remain very attractive for companies and private individuals in the long term in international competition. The leading industries have developed positively and have become even stronger, in particular life science with pharmaceuticals and medtech, trade / trading as well as blockchain, tech and IT. Many start-ups have also emerged in these areas. With the commissioning of the IT department at HSLU in Rotkreuz and the imminent start of the higher technical college for IT and electronics at the commercial and industrial training center in Zug, the canton is investing in talented and future skilled workers.
What developments do you expect in the next five years?
We hope that the economy – which was prospering before the crisis – will recover well and expect that the industry clusters will continue to develop successfully and that the canton will continue to be one of the most attractive locations.
How is the corona crisis affecting your canton's economy?
The Zug economic area is strongly networked internationally, global events have a major impact. The development of the world market has a major influence. We will have clearer information in the third quarter. The Zug government council is planning the coming months with various scenarios; by monitoring selected indicators, it closely follows the recovery of the economy.
What are you doing about it?
The canton's representatives are in constant contact with local companies, business associations and organizations. This network has proven its viability in recent months. The proximity to Zug's economy and, as a result, knowledge of the situation, including that of the micro and small firms, helped to shape the canton's support measures, which complement federal measures, in such a way that at least the most basic needs can be met.