Highlights: The Dutch government is deploying great measures to retain its multinationals. The manufacturer of semiconductor equipment, ASML, unveiled a massive investment plan. The plan called “Operation Beethoven” is allocated 2 and a half billion euros. Investments must mainly focus on one region: the east of the Netherlands and the city of Eindhoven. This is where Europe's largest technology company, AS ML, has set up its huge complex where it employs more than 20,000 people.

In the Netherlands, the government is deploying great measures to retain its multinationals, starting with the first of them: ASML, the manufacturer of semiconductor equipment. The executive…

“Operation Beethoven”, the Dutch plan to retain ASML, the semiconductor giant

In the Netherlands, the government is deploying great measures to retain its multinationals, starting with the first of them: ASML, the manufacturer of semiconductor equipment. The populist executive, criticized by employers for its anti-immigration measures which would be unfavorable to business activity, unveiled a massive investment plan on Thursday March 28.

Employees of equipment manufacturer ASML in Veldhoven, the Netherlands, 2019. © via REUTERS - Handout, Bart van Overbeeke Fotografie/ASML.

By: RFI Follow

The plan called “Operation Beethoven” is allocated 2 and a half billion euros. Investments must mainly focus on one region: the east of the

Netherlands

and the city of Eindhoven. This is where Europe's largest technology company, ASML, has set up its huge complex where it employs more than 20,000 people. “

It is one of the most important companies in the Netherlands, a global player

», Underlined Thursday the Minister of the Dutch Economy, Micky Adriaansens.

The funds will go to housing development, education, transport and even the electricity network. But above all, these investments have one objective for the government: to do everything to keep ASML in the Netherlands. Because the multinational is no longer hiding it: it is worried about the anti-immigration measures of the future coalition in power.

40% foreigners

One measure in particular is disturbing: the desire to eliminate certain tax advantages for certain foreign workers. Last January, ASML, which has 40% foreigners, suggested that such decisions could force it to leave the Netherlands.

“If we can’t get people here, we’ll get them somewhere else.” It’s very simple

,” summarized the group’s managing director Peter Wennink last January when he published his annual report.

According to a survey conducted by the Reuters agency, a dozen large Dutch companies are considering relocating their activities outside the Netherlands.

Also read: Why semiconductor champion ASML plans to leave the Netherlands

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“Operation Beethoven”, the Dutch plan to retain ASML, the semiconductor giant

“Operation Beethoven”, the Dutch plan to retain ASML, the semiconductor giant

40% foreigners

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