Dutch Government Commits Billions to Retain Tech Giants

The Dutch government is responding to calls from the Eindhoven region to strengthen support for crucial technology companies like ASML and NXP.  A substantial financial package, dubbed "Project Beethoven," is being finalised, with sources suggesting an initial commitment of at least one billion euros.

Breakdown of the Investment Plan

The outgoing cabinet's plan aims to bolster Eindhoven's competitive edge:

• Infrastructure Upgrade:  About half a billion euros earmarked for improving highways and rail links around the tech hub.
• Education Boost: 900 million euros, plus ongoing annual funding, to expand Eindhoven University of Technology and other regional technical training programs.
• Attracting Talent:  Measures to address concerns about tax rules for international employees, making the region more attractive to skilled workers.

Robert-Jan Smits, chairman of Eindhoven University of Technology, welcomes the news, noting its strong role in supplying engineers to the region's companies.

The move comes amidst efforts to create a favourable business climate in the Netherlands, addressing concerns about tax measures that could discourage companies. It also factors into the complex geopolitical landscape of technology exports, with the US lobbying to restrict advanced chip equipment sales to China.