Switzerland remains magnet for foreign companies
Some 265 foreign-owned companies established a presence in Switzerland last year, creating 1,199 jobs in the first year of Swiss operations.
The number of new firms from abroad is largely consistent with the last few years, a trend that was relatively unaffected by the Covid-19 pandemic.
The Conference of Cantonal Economic Directors on Monday said the 2022 cohort of companies plan to create 3,100 additional jobs in the next three years.
Most of the newcomers operate in the life sciences or ICT sectors.
Swiss cantons, which have autonomy over local infrastructure and tax decisions, compete both with each other and other countries as destinations for regional HQs or branches of foreign-owned firms.
Switzerland was forced to revise its tax code in 2019 following European Union complaints that the old system distorted competition.
The Swiss government has also agreed to participate in an international plan to introduce a minimum rate of corporate tax.
A recent study struck an optimistic note of Switzerland retaining its attractiveness for foreign companies despite these changes.
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