Interview: Simone Wyss Fedele, CEO, Switzerland Global Enterprise (S-GE)
An increasing number of American technology companies are setting up offices in Switzerland including well-known giants such as Google, Microsoft, eBay and Biogen. Simone Wyss Fedele, CEO of Switzerland’s official trade and investment promotion organization, explains why.
What are the strengths of Switzerland as business location?
For more than 30 years, Switzerland has been one of the most competitive business locations in the world. This is closely related to the favorable framework conditions that our country offers to domestic and foreign companies. The political stability and quality of life are very high, the infrastructure is modern, the education system and access to leading clusters with innovative companies is excellent. International talents have repeatedly chosen Switzerland as the most attractive location in the world. In addition, the business climate is generally supportive due to the American-like labor laws, low level of regulatory control and moderate corporate taxes. And foremost, let’s not forget Switzerland’s attractive full access to the EU single market. All these factors make Switzerland an ideal starting point for international firms looking to expand into Europe.
What makes Switzerland attractive to American technology firms?
Switzerland is a global innovation and technology leader. It’s not without reason that Switzerland has topped the Global Innovation Index in 2019 for the ninth year in a row; our country and company clusters are putting enormous effort into developing innovation and technology. There are no fewer than 60 universities and colleges at the forefront of international research on technologies of the future, such as artificial intelligence, life sciences and robotics, with the ETH Zurich and EPFL Lausanne belonging to the top universities world-wide. All these universities work very closely with business and industry. The Swiss education system also brings a large number of highly qualified specialists onto the labor market every year. Thanks to the Swiss-EU bilateral agreements, EU citizens can live and work in Switzerland. And for top talents from non-EU countries, Switzerland provides quick and efficient support in obtaining residence and work permits.
How does this focus on innovation and technology affect Switzerland’s economic structure?
The Swiss economy features innovative sectors that create significant added value and have formed clusters in various regions of Switzerland. The so-called “Crypto Valley” with its center of gravity in the Zurich-Zug-Lucerne area is a core location of the global blockchain industry. Northwestern and Western Switzerland are home to a cluster of world-wide leading life science companies that is unique in the world, comprised of pharmaceutical, medical technology, biotechnology and nanotechnology sectors. Between Geneva and Schaffhausen, a precision cluster has emerged based on the traditional Swiss watch industry. Switzerland is also becoming increasingly important for the ICT sector: international companies such as IBM, Cisco, Oracle, Siemens, Disney and HP have settled around the top Swiss universities and their research institutes.
How would you describe economic relations between Switzerland and the US?
The economic relations are intense and mutually beneficial. Switzerland is home to some 900 American companies, most of them with global or regional headquarters or R&D centers. US companies employ around 90,000 people in Switzerland. Conversely, around 500 Swiss companies are operating in the US, creating around half a million jobs and making Switzerland the seventh largest investor in the US. As a leading location for innovation and technology and with an economy boasting close international connections, Switzerland offers ideal conditions to US companies and strengthens their competitiveness. “
How does S-GE support US companies that are interested in expanding into Europe and setting up business in Switzerland?
As the official Swiss organization for Trade and Investment Promotion, S-GE is the first point of contact for any US and international firm interested in evaluating Switzerland as a business location or setting up its business in Switzerland. Together with our partners, the economic promotion agencies at regional and cantonal level, we show companies how Switzerland can add value and boost their competitiveness.
Patrik Wermelinger
Head of Investment Promotion
S-GE
How can interested US companies get in touch with S-GE?
In addition to our offices in Switzerland, we have branches all over the world, the so-called Swiss Business Hubs, which are mostly embedded in Swiss Embassies and Consulates. In the US, our team is based in five locations, New York, San Francisco, Atlanta, Boston and Los Angeles, and is active throughout the country.