Foreign control dominates Flemish industry, new study finds

Foreign ownership has significant influence over the Flemish economy, particularly in its industrial and strategic sectors, according to a new report from ECOOM-STORE and the Flemish Department of Work, Economy, Science, Innovation and Social Economy (WEWIS).

While foreign-controlled companies represent less than 1 per cent of all Flemish firms, they account for 30 per cent of total value added and salaried employment in the region’s non-financial market economy.

The figures are more striking in industry: 65 per cent of industrial value added and 41 per cent of industrial jobs fall under foreign control (when a foreign shareholder owns at least 50 per cent of a company’s shares). In the high-tech industry, these shares rise to 92 per cent of value added and 87 per cent of employment.

Strategic sectors are also dominated by foreign interests. In digital infrastructure, cybersecurity, and telecoms, foreign-controlled firms generate between 57 per cent and 74,7 per cent of value added. In the electricity and gas sectors, the shares are 48.3 per cent and 46.9 per cent respectively, largely due to the dominance of French players Electrabel and Luminus.

The top five foreign investor countries are the Netherlands, United States, France, Germany, and the United Kingdom. 

Regionally, Antwerp and Flemish Brabant show the highest levels of foreign control, attributed to strategic location and strong economic clusters. West Flanders and Limburg exhibit comparatively lower foreign presence.

^{#FlandersNewsService | A defence industry worker © BELGA PHOTO ERIC LALMAND}