On the occasion of the visit to the Principality of a Swedish delegation, led by HRH Prince Carl Philip, to participate with HSH Prince Albert in a conference at the Yacht Club on the theme “Connecting and Protecting our Seas,” the Monaco Economic Board and its Swedish counterpart Business Sweden seized this occasion to jointly organise a business event.
A conference was held on Thursday, October 12, on the theme of Sweden and its business opportunities for Monegasque companies, in the presence of Jean Castellini, Minister of Finance and Economy and HE Veronika Wand-Danielsson, Ambassador of Sweden to Monaco.
In the Sunrise Lounge of the Yacht Cub, the meeting heard from Michel Dotta, President of the Monaco Economic Board, Ambassador Wand-Danielsson, Robert Wentrup, Business Advisor of Sweden in France-Business Sweden and Jonas Jakobson, Founder of Nordic Equities, an investment fund mainly dedicated to Nordic companies. Mattias Lindgren, State Secretary to the Minister of Infrastructure, ended the discussion with a brief but impactful speech.
The Monegasque entrepreneurs present, representing a wide range of industries, were able to discover a country with high-performing economy very open to international business, complemented by solid expertise in innovation and environment, two themes dear to the Principality.
The latest Global Competitiveness Index published by the World Economic Forum ranks Sweden, with a population of ten million, in seventh position among 139 countries, based on criteria as diverse as innovation, macroeconomic dynamism, technological maturity, business, health and education, labour market efficiency, and so forth. These qualities have led to the emergence of global giants such as Ikea, H&M, Ericsson and Volvo.
While the country suffered during the crisis of 2008 with a significant decline in growth, it was able to make a rapid comeback with a resilience that is not unlike that of the Principality. Unemployment has shown a downward trend for over five years with a current rate of 6.8 percent.
Another feature highlighted by the speakers, which echoes Monaco, is the culture of consensus that exists both in the social and economic spheres and which also explains this ability to adapt to modernity.
These arguments have confirmed the intention of the Monaco Economic Board to organise in 2018 an economic mission to Stockholm, its first to Sweden, as announced by President Michel Dotta, for the beginning of June. The announcement was warmly welcomed by the Swedish delegation and the Monegasque entrepreneurs present.
While official relations between Monaco and Sweden were established in 2009, economic exchanges remain embryonic, so the potential is significant.
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