Market Watch – Benelux

 

Overview

  • The BeNeLux countries (Netherlands, Belgium and Luxembourg) are working hard to return to normal business practise.

  • Health and safety remain a prime concern so remote working and virtual meetings will continue to be in place for some time to come.

  • Continued communication with clients is vital.

  • Opportunities are available in the biopharma, digital connectivity, and biotech sectors.

Like the rest of Europe, the BeNeLux countries are working hard to return to some level of normality after Covid-19. And Patrick Torrekens, Head of the Enterprise Ireland BeNeLux team, says despite the fact that remote working remains in place, business is beginning to pick up in the region.

“Just like many people across the world, I have been working from home for the past few months and here in the BeNeLux countries, remote working, particularly for the services industry, is still the recommended norm as part of the three countries’ re-entry strategy,” he says.

“However, more and more production facilities, construction sites, engineering plants and office buildings are gearing towards full capacity and the ports of Antwerp and Rotterdam are fully operational with authorities doing everything to maintain the flow of goods in and out of the three countries.”

Torrekens says health and safety remain the prime concern and the necessary measures have been taken to ensure social distancing on the work floor, on public transport and in public places. While industry heads and Government are doing everything they can to get everything up and running once more.

“Things are not back to normal as yet, but the Dutch, Belgians and Luxemburgish, are keen to see business pick up again as quickly as possible,” he says. “When we are talking to buyers in our markets, we still hear that their focus is on adapting to the new reality on making their supply chain, and other critical processes, Covid compliant.

“So any solution which helps them to achieve Covid compliance gets their full attention and that is why it’s so important to stay closely connected to your clients as they are also turning to their existing client base for inspiration and support at the moment. But BeNeLux decision makers are not currently looking at new investment projects so expect a delay in the sales cycle, be patient and stay connected with your in-market contacts.”

But despite the delay in returning to normal, he says business is definitely moving in certain sectors and some markets remain buoyant.

“There are opportunities and exceptions to be found, particularly in the sectors of high relevance for trade with Ireland,” says Torrekens. “The BeNeLux region is a hot spot for pharma and biotech research and innovation and it is expected that multinationals such as Johnson and Johnson, with research facilities in the Antwerp region, will invest in new laboratories for vaccine production and other virus related research.

“So it is encouraging to see that some Irish companies are already preparing to play a part in this by strengthening their teams in markets.”

The past few months have clearly pointed at the strategic need for digital infrastructure and the Netherlands, in particular, is a frontrunner in digital connectivity and continues to invest in its infrastructure.

The Enterprise Ireland regional manager says communication is vital during these strange times, so Irish companies must do all they can to stay in touch with their clients.

“An interesting fact to mention is that the Netherlands has witnessed the highest global growth rate of virtual meetings held over digital platforms in the past weeks,” he says.
“So rest assured that if your contacts are not available for face to face meetings, they are definitely open, and accustomed, to online sessions. And please remember that the travel restrictions which are currently in place in the Netherlands, Belgium and Luxemburg should not prevent you from reaching out to existing clients and new prospects.

“Finally Belgians and Dutch and Luxemburgish people have massively turned to online commerce and businesses have adapted their sales channels to accommodate this. This has given an extra boost to businesses in IT, and professional service but also in transport and logistics.

“Ultimately, your solution will stand out if you have a strong value proposition which gives you a good chance to win more business in this region. And our teams stand ready to support you with advice and hands on support, so do get in touch, virtually for now, but hopefully face to face soon.”

Get key insights on doing business in BeNeLux and the supports available from Enterprise Ireland.

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