07 January 2016
E-commerce at the core of Luxembourg's financial future
Luxembourg looks to expand finance status
Luxembourg for Finance has said that over the next five years the Grand Duchy will look to expand on its status as a global financial centre, with an especial focus on E-commerce, artificial intelligence and other arms of the digital economy.
In its report, LUXFIN2020, Luxembourg for Finance emphasises the success Luxembourg has had in providing cross-border products and services across a range of sectors, including Luxembourg investment funds, alternative investment funds, wealth management for high net worth individuals, banking, insurance and corporate structuring.
The report says that Luxembourg should look to build on the foundations established by these key areas while committing itself to innovation in growth areas such as E-commerce and artificial intelligence. It is hoped that one of the main drivers of this plan will be ongoing innovation in the area of digital financial services.
"Luxembourg's financial centre will continue to improve its competitiveness and establish itself as the destination of choice in the European Union for international investors," commented Nicolas Mackel, CEO of Luxembourg for Finance.
"Luxembourg's solid foundations, as well as the vision developed in LUXFIN2020, will enable us to remain a leading international financial centre for years to come."
Moreover, Mackel stressed the important role that Luxembourg's physical and regulatory environment play in its success in attracting international investors to its financial services.
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