Luxembourg Gives Boost To Financial Centre In Asia
Thursday, October 20, 2011
Determined to reinforce the Luxembourg financial centre in markets experiencing
strong economic growth, Luxembourg’s Finance Minister Luc Frieden is currently
on a visit to Asia to promote the financial centre.
Accompanied by an important delegation comprising representatives from the
Luxembourg financial centre, the minister is due to visit Singapore, Malaysia
In its statement, the Luxembourg government explains that the aim of the mission
is to develop the presence of the financial centre in the region and to strengthen
political and economic relations. In each of the countries visited, Finance
Minister Frieden plans to meet for talks with political and economic leaders.
The minister will also take part in a series of seminars dedicated to the Luxembourg
financial centre, organized by Luxembourg for Finance, the country’s development
agency for the financial centre, the government adds.
At the same time, Luxembourg’s Head of State the Grand Duke is due to
preside over an economic mission to China, led by the country’s Economy
and Foreign Trade Minister Jeannot Krecké.
According to the Luxembourg government, a number of companies from various
sectors of the economy are taking part in the visit, including representatives
from the financial sector, the logistical and information, communication and
technology sectors (ICT), the car and tourism industries, as well as from other
Following a brief stay in Hong Kong, the delegation is scheduled to visit Shenzhen,
home to a number of major companies from the ICT, high-tech and logistics sectors,
following the creation of the special economic zone.
The delegation is also due to visit Chongqing in southwest China, a city at
the heart of the country’s regional development strategy, which aims to
decentralize the Chinese economy and to promote economic development in China.
In Chongqing, the delegation plans to visit the airport and integrated free
Concluding its statement, the Luxembourg government notes that the mission
plans to end its trip to China in Shanghai, where it is expected to take part
in a seminar organized by Luxembourg for Finance.