Foreign firms creating more jobs in Switzerland despite pandemic
Switzerland has remained an attractive location for foreign firms, creating more jobs last year than in 2019 - despite the economic effects of the coronavirus pandemic, Swiss public television SRF and RTS have reported.
This content was published on
2 minutes
SRF/RTS/ilj
Español
es
Aumentan empleos de firmas extranjeras pese a la pandemia
Foreign firms accounted for 11% more jobs in 2020, bringing the total to almost 1,200, even if the total number of companies moving to the country dropped (by 9%), SRF saidExternal link. Over the next three years, they are expected to drive the creation of 3,500 jobs.
The company, which manufactures custom metal solutions for a wide range of industries, decided to open its first branch outside the US in Schmitten, in the canton of Fribourg.
Stability
The figures come at a time of general economic global woes brought on by the coronavirus pandemic. Switzerland’s economy shrank 2.9% last year as a result of Covid-19, the worst annual contraction since the aftermath of the oil crisis in 1975. But officials are optimistic that the Swiss economy will rebound.
Patrick Wermelinger, from Switzerland Global Enterprise, the Swiss export promotion agency, said Swiss stability had played a role.
“In a crisis year, stability, long-term planning, the economic security play an even more important role. This is in Switzerland’s favour. But we were surprised by just how many new jobs were created,” he told SRF.
Companies from China, the US and Germany created the most jobs.
Switzerland is also one of the few that have attracted more foreign investment in 2020, according to SRF. Only Ireland attracted more, the fDi Markets Financial Times report found.
More
More
Switzerland has navigated Covid-19 well, says IMF
This content was published on
The Swiss response to the Covid-19 pandemic has received good marks from the International Monetary Fund (IMF).
Red Cross: 22 staff members killed in Middle East conflict since October
This content was published on
The Red Cross and Red Crescent network in Gaza and Israel has lost 22 staff members since last October, the Swiss Red Cross (SRC) said on Wednesday.
Dortmund’s Kobel is first Swiss goalie to reach Champions League final
This content was published on
Borussia Dortmund’s Gregor Kobel has achieved history by becoming the first Swiss goalkeeper to reach a Champion’s League final.
University students in Switzerland join Gaza protest wave
This content was published on
Pro-Palestinian activists occupied university buildings in Lausanne, Geneva and Zurich on Tuesday, widening the protest movement in the Alpine nation.
TradeXBank to resume full operations after Sberbank Switzerland taken off sanctions list
This content was published on
TradeXBank, the former Swiss branch of Russia’s Sberbank, will be able to resume its dollar-denominated activities from the second half of this year.
Geneva decides not to remove controversial memorials
This content was published on
The city of Geneva has presented an action plan regarding a series of controversial local statues and monuments of historical figures linked to racism, colonialism or slavery.
University of Lausanne calls for end to pro-Palestine sit-in
This content was published on
The pro-Palestinian occupation continues at the University of Lausanne (UNIL). On Monday evening, a group of students refused to agree to the deadline set by the rectorate.
Ukraine peace conference should include Russia, says Chinese ambassador
This content was published on
China supports a peace conference on the Ukraine war that would see equal participation of all parties, says Chinese Ambassador to Russia Zhang Hanhui.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.