Flanders attracted 278 new foreign investments in 2022, creating 6.540 new jobs

2022 was a very good year for FDI in Flanders (foreign direct investment). With a total investment of 5,26 billion euros, an all-time record was reached. The strong chemical and pharmaceutical sectors became even stronger, and the energy transition and innovation were accelerated.

On the eve of the yearly Davos event, the Flemish authorities publish their FDI figures as one of the first regions or countries in the world. Today’s figures are something to be proud of, say Flemish minister-president (prime minister) Jan Jambon, and Joy Donné, the CEO of the agency responsible for supporting export and foreign investment, FIT.

The countries where the investors come from, remain largely the same as in the past: 56 projects from US companies, 44 from the Netherlands, 31 from France, 22 from the UK, 20 from Germany, 15 from Japan, and China 11.

The nature of the investment projects is best proven by some examples. After the corona pandemic, US pharmaceutical company Pfizer invests 1,2 billion euros in its Puurs-site, where the vaccines were and are made. Competitor Sanofi (France) invests 120 million in its Geel-site, where innovative medicines are produced.

On energy and climate tech, a large green hydrogen production plant is being built by Plug (US) in the port of Antwerp. ZF Win Power (Germany) announced a major investment in a test centre.

The Flemish investment figures also show how companies react to a crisis: after Brexit there were many UK investments in Flanders, today companies react to the pandemic and to the challenge of climate change.

Joy Donné of FIT says Flanders remains a strong brand with several advantages to offer to foreign investors, but the international competition remains fierce. And this is why many Flemish, Belgian and EU politicians will be at the Davos gathering this week.

_{#FlandersNewsService | Belgian prime Minister Alexander De Croo, Pfizer Chief Global Supply Officer and Executive Vice President, Mike McDermott, Flemish Minister President Jan Jambon and Site leader Pfizer Manufacturing Belgium Luc Van Steenwinkel. ©BELGA PHOTO BENOIT DOPPAGNE}