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UMS United Management Services
Presentation Scope Luxemburg Contact
Specificities in the Grand Duchy · Economy
History
International Relations
Economy
Government
Luxembourg is nowadays a modern and prosperous country, which has successfully managed do diversify its economy, first from agriculture to steel industry, then becoming one of the world’s leading centres for finance and services. Lately it has added satellite communication, high-tech engineering and information technology to its vast range of economic activities. A favourable tax legislation but also non-bureaucratic administrative procedures as well as the availability of highly skilled persons on the labour market and social stability attract many foreign companies to set up their head office or establish subsidiaries in Luxembourg.
The Grand Duchy owes its success to competent visionary political leaders – among others Pierre Werner, its former Prime Minister considered as one of the fathers of the euro – and its ability to combine a stable legislative framework with the necessary flexibility for quick adaptations if required by economic competitiveness. Luxembourg is in the mainstream on the major current EU issues like the monetary union, social and labour policy as well as immigration and adopted the euro right from its introduction, but defends its traditional tax legislation and banking secrecy.