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Nearly 100 companies move from the UK to Netherlands ahead of Brexit

September 5, 2019 12:00 PM

Almost 100 companies have left and another 325 companies worried about losing access to the European market are considering a move to the Netherlands. KeizersgrachtReguliersgrachtAmsterdam CC BY-SA 3.0 Massimo Catarinella (CC BY-SA 3.0 Massimo Catarinella)

BREXIT - They said it wouldn't happen..

Almost 100 companies have already relocated from Britain to the Netherlands or set up offices there to be within the European Union due to the United Kingdom's planned departure from the bloc, according to a Dutch government agency. A further 325 companies worried about losing access to the European market are considering a move, the Netherlands Foreign Investment Agency said in a Reuters report.

The businesses are mainly in a cross section of the services sector, a key component of the UK economy, including finance, information technology, media, advertising, life sciences and health. The Netherlands has been competing with Germany, France, Belgium and Ireland to attract Brexit-related moves.

Although parliament have taken control of the parliamentary agenda to prevent a NO Deal exit from the EU, Boris Johnson,has pledged to take Britain out of the European Union at the end of October with or without an exit deal. Johnson said at the G7 summit, when questioned about the intention to leave. "Clearly for us, the walking away as it were, would come on October 31 when we would take steps to come out on the terms for which we will have by then made absolutely colossal and extensive and fantastic preparations."

Jeroen Nijland, NFIA commissioner, said: "The ongoing growing uncertainty in the United Kingdom, and the increasingly clearer possibility of a no deal, is causing major economic unrest for these companies," said "That is why more and more companies are orienting themselves in the Netherlands as a potential new base in the European market."

"Source: AMSTERDAM (Reuters) 26, 2019